- The U.S. Treasury Department temporarily lifted sanctions on Iranian oil at sea until April 19 to combat rising global oil prices.
- This “General License” permits the purchase and offloading of Iranian oil already loaded onto vessels, including those previously sanctioned.
- Treasury Secretary Scott Bessent defended the move as a “narrowly tailored, short-term authorization” to inject 140 million barrels into global markets and help lower prices.
- The decision follows escalating attacks on Middle Eastern energy facilities, including Iranian strikes on Qatar's Ras Laffan, which have contributed to increased oil costs.
- Donald Trump has criticized NATO allies for their perceived unwillingness to protect the Strait of Hormuz, while the Pentagon seeks an additional $200 billion for the offensive.
IN FULL
