Possibility of Suspension of Sanctions on Iran’s Oil in Transit by Washington
The U.S. Treasury Secretary announced that the government is considering lifting sanctions on Iranian oil shipments that are currently at sea, a move raised amid rising global energy prices and regional tensions.
Scott Besant, the U.S. Treasury Secretary, on Thursday hinted at a possible change in Washington’s sanction policy, stating that Iranian oil shipments currently being carried by tankers might be exempted from the sanctions.
These remarks come as energy markets are experiencing price hikes due to recent conflicts in the Middle East, a situation that has arisen following intensified attacks on energy infrastructure in Iran and some Gulf countries.
In an interview with Fox Business, Besant clarified that in the coming days, we might lift the sanctions on Iranian oil that is on the water, amounting to approximately 140 million barrels.
Meanwhile, the United States had previously, in response to recent developments and as part of joint attacks with Israel against Iran, temporarily authorized the sale of sanctioned Russian oil that is stored at sea.
Continued attacks on energy facilities in the Middle East have led to a significant surge in oil prices in global markets. At the start of Thursday’s trading in Europe, and concurrently with reports of halted operations at the Yanbu oil facilities in Saudi Arabia on the Red Sea coast, the price of North Sea Brent crude rose by more than 10 percent, reaching $118 per barrel.
