The U.S. Treasury Secretary Scott Bessent indicated Thursday that Washington may soon withdraw sanctions restrictions on Iranian crude oil currently held aboard tankers worldwide. The move aims to increase available global supply and reduce upward pressure on crude prices amid regional instability.
Thousands of barrels of Iranian oil remain stranded at sea aboard sanctioned vessel fleets, representing a significant reserve that could be mobilized to ease global supply tightness. Removing sanctions barriers would allow these cargoes to reach international markets, potentially moderating price volatility.
This signals a shift in U.S. energy policy focused on price stabilization over maximum pressure tactics, reflecting administration priorities to address inflation concerns.