US Lifts Sanctions on Iranian Oil Stranded at Sea

Treasury Secretary Scott Bessent said the United States will ‘use the Iranian barrels against Tehran to keep the price down’ as the war continues.

Treasury Secretary Scott Bessent testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 5, 2026. Madalina Kilroy/The Epoch Times

The United States has issued a 30-day sanctions waiver to allow the sale of Iranian crude oil and petroleum products that are currently stranded at sea, U.S. Treasury Secretary Scott Bessent said on March 20.

A general license had been issued authorizing the delivery and sale of Iranian crude oil and petroleum products that had already been loaded onto ships as of March 20, according to a document released by the Treasury Department’s Office of Foreign Assets Control. The license is valid until April 19.