US Grants 30-Day Waiver on Iranian Oil Sanctions to Ease Global Supply

The Trump administration has approved a 30-day waiver allowing the purchase of Iranian oil at sea. This move is intended to bring about 140 million barrels back into the global market and help relieve energy shortages since the US-Israeli conflict began. This is the third temporary sanctions relief in two weeks, following similar actions on Russian oil. Treasury Secretary Scott Bessent insists Iran will not benefit, as the waiver covers only oil already in transit and bars new purchases or production. Critics warn the policy could indirectly fund Iran’s war efforts. Bessent counters that any revenue will be inaccessible to Tehran and that the US will maintain maximum pressure on Iran’s financial networks.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.