Last Updated on March 21, 2026 9:57 pm by INDIAN AWAAZ
AMN/ WEB DESK
The United States has eased sanctions on some Iranian oil, allowing limited sales of cargoes stranded at sea as it seeks to contain the war’s impact on global energy markets. U.S. Treasury Secretary Scott Bessent announced a narrowly tailored, short-term authorisation for the sale of Iranian crude and petroleum products already loaded on vessels, valid until 19th of the next month.
The move could release about 140 million barrels into global markets, though experts said the impact on prices would be limited and warned it could boost funds for Iran.
Oil and gas prices have surged since the conflict began, with Brent crude trading near 112 dollars a barrel. Before the war, China was the main buyer of discounted Iranian oil under sanctions, while the waiver may redirect supplies to countries such as India, Japan and Malaysia.