30-Day Waiver on Iranian Oil Purchases : It has been almost three weeks since the war started after America-Israel attack on Iran. The world is facing an energy crisis due to this war that broke out in the Middle East. Due to the closure of the Strait of Hormuz, the prices of crude oil are skyrocketing and on the other hand, there is a shortage of gases. Meanwhile, in a major U-turn, America has lifted the ban on Iranian oil for 30 days.
Read :- IND vs IRE T20I Series Schedule: T20I series announced between India and Ireland, see when and where the matches will be played.
Many countries are going to get big relief from the Trump administration’s lifting of the ban on Iranian oil. After this decision, Iranian oil can be bought and sold without fear of any penalty. It is expected that this decision of President Trump will control oil prices. The Trump administration has said that the ban on Iranian oil is being relaxed for the next 30 days. This will apply to oil loaded in ships between March 20 and April 19.
US Finance Minister informed about the decision
“Iran is the epicenter of global terrorism, and through President Trump’s ‘Operation Epic Fury,’ we are winning this critical battle faster than expected,” US Treasury Secretary Scott Besant said in the X Post. “In response to Iran’s terrorist attacks on global energy infrastructure, the Trump Administration will continue to use America’s economic and military power to maximize the world’s energy supply, strengthen global supply, and ensure market stability.”
He said, “Today, the Treasury Department is issuing a limited-scope, short-term authorization that allows the sale of Iranian oil stranded at sea. Right now, Iranian oil that is under sanctions is being hoarded by China at cheap prices. By opening up this existing supply to the world for a short period of time, the United States will quickly bring approximately 140 million barrels of oil to global markets, which will increase the amount of energy around the world and because of Iran. “This will help ease the temporary pressure on supplies. In fact, we will be using Tehran’s own oil to keep prices down by continuing ‘Operation Epic Fury’.”
Read :- Big change in LPG Booking Time, now booking will have to be done by looking at the clock, not 24 hours, know the new time-table.
Iran is the head of the snake for global terrorism, and through President Trump’s Operation Epic Fury, we are winning this critical fight at an even faster pace than anticipated. In response to Iran’s terrorist attacks against global energy infrastructure, the Trump…
— Treasury Secretary Scott Bessent (@SecScottBessent) March 20, 2026
“This temporary, short-term authorization is limited only to oil already in transit, and does not permit new purchases or production. Additionally, Iran will have a difficult time accessing any earnings from it, and the United States will maintain maximum pressure on Iran and its access to the international financial system. So far, the Trump administration is working to bring about 440 million additional barrels of oil to the global market, freeing the Strait of Hormuz,” Besant wrote in the X-Post. “Iran’s ability to take advantage by imposing obstacles across the strait has been weakened.”
He further wrote, “President Trump’s pro-energy agenda has driven US oil and gas production to record levels, strengthening energy security and lowering fuel prices. Any short-term disruption now will ultimately translate into long-term economic benefits for Americans – because there is no prosperity without security.”
Comments are closed.