The U.S. Government announced a 30-day sanction exemption Friday, March 20, 2026, to allow for the purchase of Iranian oil currently at sea, a move intended to alleviate pressures on global energy supplies amid the ongoing conflict involving the U.S., Israel and Iran.
The decision was revealed by U.S. Treasury Secretary Scott Bessent.
This marks the third time in approximately two weeks that the U.S. Has temporarily lifted sanctions. The move underscores the administration’s concern over potential disruptions to the oil market.
Previously, the U.S. Had eased sanctions on Russian oil, and on Friday issued a general license permitting the sale of Iranian crude oil and petroleum products that were loaded onto ships between March 20 and April 19, as detailed in the license published on the Treasury Department’s website.
“By temporarily unlocking this existing supply to the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding global energy supply and helping to alleviate temporary supply pressures caused by Iran,” Bessent stated in a post on the social media platform X.
Iran is the head of the snake for global terrorism, and through President Trump’s Operation Epic Fury, we are winning this critical fight at an even faster pace than anticipated. In response to Iran’s terrorist attacks against global energy infrastructure, the Trump…
— Treasury Secretary Scott Bessent (@SecScottBessent) March 20, 2026
“we will be using Iranian barrels against Tehran to keep the price down even as we continue Operation Epic Fury,” Bessent added. The decision to utilize Iranian oil supplies to stabilize prices while pursuing military operations represents a notable strategic approach.
