OfficialDiplomacy & politicsBackgroundWashington, United States
U.S. Treasury temporarily lifts sanctions on Iranian oil already at sea
- Mountain Time
- Local time
- 6:39 PM in New York
- Where
- Washington, United States
OFAC's General License U authorizes the sale, delivery and offloading, including imports into the United States, of Iranian crude and petroleum products loaded on vessels by 12:01 a.m. EDT on March 20, through 12:01 a.m. EDT on April 19, 2026. The administration presented it as a way to curb soaring oil prices.
Why it matters
It is a temporary break with Trump's "maximum pressure" oil sanctions that adds supply to a squeezed market but lets Iranian cargoes already afloat find buyers during the war.
Sources (3)
- U.S. Treasury OFAC, General License Uofac.treasury.govPublished
- Associated Pressapnews.comPublished
- CBS Newscbsnews.comPublished
Confidence: Stated by a named government, military, or institution. Not independently confirmed. About confidence labels