US considers lifting sanctions on some Iranian oil
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The US is considering easing sanctions on some Iranian oil sales to mitigate the impact of the war in Iran on global energy markets. Treasury Secretary Scott Bessent suggested the move could increase oil availability and lower prices, particularly for countries like India, Japan, and Malaysia. The proposal involves waiving restrictions on approximately 140 million barrels of Iranian oil already at sea. Experts caution that the impact on prices may be limited and raise concerns that it could indirectly fund the Iranian government. While China was previously the primary buyer of sanctioned Iranian oil, the US hopes to redirect supplies and force China to pay market price. The details of the potential waiver and its implementation remain unclear.
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