Trump Temporarily Allows Sale of Iranian Oil As Prices Spike Above $110 per Barrel

The United States has approved a temporary 30-day waiver allowing the sale of Iranian oil at sea, in a bid to increase global supply and ease pressure on rising energy prices.

The decision was announced on Friday. US President Donald Trump is trying to stabilize oil markets, which have been under strain following escalating tensions linked to ongoing US and Israeli military strikes against Iran.

According to Treasury Secretary Scott Bessent, the waiver could bring approximately 140 million barrels of oil into global circulation, helping to relieve supply constraints.

Under the temporary license, Iranian oil may be purchased and transported under specific conditions necessary to complete transactions or deliveries. However, several regions, including Cuba, North Korea, and Crimea, remain excluded from the waiver.

While the United States has largely avoided importing Iranian crude since sanctions were imposed following the 1979 revolution, it remains unclear whether any of the oil released under this waiver will actually reach US markets.

This marks the third sanctions-related waiver issued by the US in recent weeks.

Despite the temporary easing, US officials openly claimed that sanctions on Iran remain in place and that efforts to limit Tehran’s access to revenue and the global financial system will continue.