Short-term move aims to ease global oil supply pressure as tensions rise in the Gulf
WASHINGTON: The United States has announced a temporary 30-day easing of sanctions on Iran’s oil exports, a move aimed at stabilizing increasingly volatile global energy markets.
U.S. Treasury Secretary Scott Bessent said the waiver applies only to oil shipments already in transit and will not cover new contracts or purchases. He emphasized the decision is designed to reduce immediate supply pressure and prevent further disruption in global markets.
The development comes amid heightened tensions involving Israel and Iran, which have fueled concerns about oil supply routes and price instability. Earlier remarks by Donald Trump suggested regional actions were driven by escalating anger, adding to geopolitical uncertainty.
Recent incidents in the Strait of Hormuz, A critical global energy corridor have further intensified fears. Iran has reportedly targeted vessels it claims are linked to the U.S. and Israel, disrupting shipments through one of the world’s busiest oil transit routes.
Energy analysts warn that any sustained disruption in the Strait could significantly impact global supply chains, as millions of barrels of oil pass through the corridor daily. Oil prices have already surged in response to the tensions, raising inflation concerns worldwide.
Experts say Washington’s temporary relief measure is a strategic, short-term step to calm markets. However, prolonged instability could have deeper consequences for global trade and the broader economy.
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