Washington 20 March 2026 #3
lalasor
20 March 2026
Treasury Secretary Scott Bessent announced that the U.S. was “issuing a narrowly tailored, short-term authorisation permitting the sale of Iranian oil currently stranded at sea… By temporarily unlocking this existing supply for the world, the U.S. will quickly bring approximately 140m barrels of oil to global markets, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran. In essence, we will be using the Iranian barrels against Tehran to keep the price down as we continue Operation Epic Fury”. Bessent went on to stress that General License U was “strictly limited to oil that is already in transit… Further, Iran will have difficulty accessing any revenue generated”.
