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CommoditiesMediumUpdated•Originally published 20 March 2026•Updated 21 March 2026•

1 min read

US Treasury Issues 30-Day Waiver for Sale and Delivery of Iranian Oil at Sea

Digital illustration of oil market dynamics with US and Iran maps, oil rigs, refineries, price charts, and a rising green arrow, with oil barrels in the foreground.

Key Facts

1The US Treasury Department issued a 30-day authorization for the delivery and sale of Iranian-origin crude oil and petroleum products.

2 months ago

Version History

3 additional sources confirmed this story

Version 12 months ago

What changed: Updated the story to include plans by Indian and Asian refiners to resume Iranian oil purchases following the US waiver.

The US Treasury Department has issued a 30-day authorization allowing for the delivery and sale of Iranian-origin crude oil and petroleum products currently on loaded vessels. In a swift response, Indian refiners have announced plans to resume buying Iranian oil to capitalize on the temporary waiver. Other refiners across Asia are also examining a return to Iranian crude purchases to alleviate the ongoing energy crunch. This move comes amid severe supply disruptions caused by the military conflict involving the U.S., Israel, and Iran. Treasury Secretary Scott Bessent previously indicated that this measure aims to cool record-high prices following the closure of the Strait of Hormuz. Consequently, oil benchmarks like Brent Crude and WTI Crude are expected to face downward pressure as physical supply concerns begin to ease.