US Approves Temporary Delivery and Sale of Oil Originating from Iran

CryptocurrencySniper · 2026-03-20T23:51:39+00:00

The U.S. Department of the Treasury approved a 30-day authorization permitting the sale of loaded Iranian crude oil and petroleum products, expected to provide approximately 140 million barrels of oil to global markets. This measure aims to release existing oil supplies in the short term.

CryptocurrencySniper

2026-03-20 23:51:39

Abstract generation in progress

According to the U.S. Department of the Treasury, the United States approved a 30-day authorization on March 20 local time, allowing ships carrying crude oil and petroleum products originating from Iran to be delivered and sold. The new license permits the sale of Iranian crude oil and petroleum products that were loaded onto ships as of March 20.

Treasury Secretary Janet Yellen stated that the Department of the Treasury is issuing a “narrow scope, short-term authorization” to allow the sale of Iranian oil currently stranded at sea. By temporarily releasing existing oil supplies, the U.S. will quickly provide approximately 140 million barrels of oil to the global market. The temporary, short-term authorization is strictly limited to oil already in transit.

(Source: CCTV News)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes