New Delhi: In view of the increasing pressure and supply crisis in the global energy market, America has taken an important decision. America has issued a temporary exemption of 30 days for the sale of Iranian oil already stranded in the sea, in an effort to immediately increase the supply in the market.
This step has been taken amid the ongoing conflict between America, Israel and Iran, where the risk of energy supply being affected has increased. The objective of this decision is to bring stability in the global market and reduce the pressure on oil prices.
attempt to stabilize the market
Giving information about this decision on X, US Finance Minister Scott Besant said that this step has been taken to stabilize the market by opening up the existing supply. he said "By temporarily opening this existing supply to the world, the United States will quickly transport approximately 140 million barrels of oil to global markets."
Limited discount from 20th March to 19th April
According to the license issued by the US Finance Department, this discount will be applicable only between March 20 and April 19. During this period, permission has been given to sell Iranian crude oil and petroleum products already loaded on those ships.
Officials clarified that this exemption is very limited and no new production or new purchase will be allowed under it. Besant said, "This temporary, short-term authorization is strictly limited only to oil that is already in transportation and does not allow new purchases or production."
Focus on increasing energy supply
He further said that this decision will increase global energy supply and help in controlling prices."By continuing Operation Epic Fury, we will use Iranian oil against Tehran to keep prices low."
Part of comprehensive energy strategy
This relaxation is the third major relief given in recent weeks. Earlier, similar exemption has been given on oil related to Russia. Besant said that the administration has already worked towards bringing hundreds of millions of barrels of additional oil into the global market.
He said, "So far, the Trump administration is working to bring about 440 million additional barrels of oil to the global market."
Serious allegations against Iran
Besant also accused Iran of trying to create obstacles in major sea routes. He said, "Iran is the mastermind of global terrorism and we are winning this important battle faster than anticipated."
strategy to maintain pressure
Although relaxation has been given, America has also made it clear that economic pressure on Iran will continue. Besant said,
"Iran will have difficulty accessing the revenues generated and the United States will continue to maintain maximum pressure,"
He also said that this step has been taken with the aim of stabilizing the market without relaxing the broader restrictions.
Comment on China’s role also
Besant also mentioned China’s role in storing Iranian oil. He said,
"China is storing banned Iranian oil at cheap prices."
balance between war and market
This decision shows that on one hand America wants to maintain military pressure on Iran, while on the other hand its priority is to keep the global energy market balanced. This step is considered important especially in view of the possible disruption in the Strait of Hormuz.
In the end Besant said,"The Trump administration will continue to use America’s economic and military power to maximize the supply of energy to the world."
Comments are closed.