US Approves Temporary Delivery and Sale of Oil Originating from Iran

GateUser-bd883c58

2026-03-21 02:37:26

Abstract generation in progress

Question: Why is the U.S. releasing Iranian oil supplies at this time?

△U.S. Department of the Treasury (File photo)

According to the U.S. Department of the Treasury, on March 20 local time, the U.S. approved a 30-day authorization allowing the delivery and sale of ships carrying crude oil and petroleum products originating from Iran. The new license permits the sale of Iranian crude oil and petroleum products that were loaded onto ships as of March 20.

U.S. Treasury Secretary Janet Yellen stated that the Treasury is issuing a “narrow scope, short-term authorization” to allow the sale of Iranian oil currently stranded at sea. By temporarily releasing existing oil supplies, the U.S. will quickly provide approximately 140 million barrels of oil to the global market. The temporary, short-term authorization is strictly limited to oil already in transit. (CCTV Reporter Zhao Miao)

Iran responds to U.S. “relaxation of sanctions,” saying it is a psychological market regulation>>

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes