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US may remove sanctions on Iranian oil stranded in tankers, treasury secretary says

The Guardian - World NewsCenter-LeftEN 2 min read 100% complete by Guardian staff and agenciesMarch 20, 2026 at 01:31 AM
US may remove sanctions on Iranian oil stranded in tankers, treasury secretary says
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US Treasury Secretary Scott Bessent announced the potential removal of sanctions on approximately 140 million barrels of Iranian oil currently stranded on tankers. This move aims to increase global oil supply and curb rising prices resulting from Iran's closure of the Strait of Hormuz. The US Treasury may issue a waiver similar to one used for Russian oil, allowing the sale of already-stranded Iranian crude within a limited timeframe. The goal is to divert oil destined for China into broader global markets, mitigating Iran's leverage over the Strait. Bessent also mentioned potential unilateral releases from the Strategic Petroleum Reserve and emphasized that the US would focus on supplying physical oil markets rather than intervening in futures markets.

Key Entities & Roles

Key Player Opposition Context
BBC 30% Blackstone Compliance Services 30% Fox Business Network 40% David Tannenbaum 40% G7 40% Strategic Petroleum Reserve 50% Russia 50% China ×260% Strait of Hormuz ×480% United States ×480% Iran ×790% Scott Bessent ×590%

Keywords

iranian oil 100% sanctions 90% oil prices 80% strait of hormuz 70% oil supply 60% russian oil 50% us treasury 50% oil tankers 40%

Sentiment Analysis

Neutral
Score: -0.10

Source Transparency

Source
The Guardian - World News
Political Lean
Center-Left (-0.40)
Far LeftCenterFar Right
Classification Confidence
90%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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iranian oilsanctionsoil pricesstrait of hormuzoil supplyrussian oilus treasuryoil tankers
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