The US has announced a temporary waiver of sanctions on Iranian oil, allowing the sale of millions of barrels stranded at sea in a bid to stabilise global energy markets.
According to multiple reports, the waiver will enable the release of around 140 million barrels of crude oil that have been held on tankers since the start of the ongoing conflict involving Iran.
The measure is aimed at easing supply shortages and lowering oil prices, which have surged sharply amid disruptions linked to the war and instability in the Strait of Hormuz, a critical global energy route.
US Treasury officials said the waiver applies only to oil already in transit and does not permit new production or expanded trade, underlining its limited and temporary nature.
The move follows a similar decision by Washington to relax restrictions on Russian oil in recent weeks, as part of broader efforts to contain rising fuel costs.
However, analysts warn the policy may face criticism for potentially providing economic relief to Iran despite ongoing hostilities.
