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

关键事实

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

2The decision applies to vessels already loaded with oil and aims to alleviate global supply shortages.

3This measure follows previous hints from Treasury Secretary Scott Bessent to de-sanction Iranian oil already at sea.

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.

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