JAKARTA - The United States is considering easing sanctions on Iranian oil stored on offshore tankers to add to global supplies and put pressure on energy prices.
"In the next few days, we may lift sanctions on Iranian oil that is at sea. The amount is around 140 million barrels," Finance Minister Scott Bessent told Fox News, quoted by ANTARA from Anadolu, Thursday, March 20.
He explained that the volume was equivalent to a supply of about 10 days to two weeks, depending on the calculation method.
The statement comes amid an escalation of the regional conflict since Israel and the United States launched a joint attack on Iran on February 28, which reportedly killed around 1,300 people, including then Supreme Leader Ali Khamenei.
In response, Iran launched a missile barrage across multiple regions and effectively closed the Strait of Hormuz, a vital global energy shipping route.
The strait is normally transited by around 20 million barrels of oil per day as well as around 20 percent of the world's liquefied natural gas (LNG) trade, so disruption in the region triggers significant pressure on global energy markets.
Bessent said the United States plans to use the Iranian oil supply to suppress energy prices in the short term, over the next 10 to 14 days "as we continue this operation."
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