US considers removing Iranian oil from sanctions lists

The US is considering lifting sanctions on Iranian oil, which has been loaded into tankers at sea, a move that could take place as early as this month, according to US Treasury Secretary Scott Bessent.

Speaking on March 19, Bessent stated that the measure would be directed "against the Iranians themselves", as reported by Fox Business.

"In the coming days, we can remove Iranian oil that has already been loaded. This is about 140 million barrels",

Bessent said.

He explained that this volume represents a 10-to-14-day supply that Iran had intended to deliver to China.

Bessent also noted that the US could release additional oil from its strategic reserves to help lower market prices.