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US Conditionally Eases Sanctions on Iranian Oil Products for 30 Days
Odaily Planet Daily reports that the United States approved a 30-day conditional license on March 20 local time, relaxing sanctions on Iranian oil products. For Iranian crude oil and petroleum products already loaded onto ships as of March 20, delivery and sale are permitted. U.S. Treasury Secretary Janet Yellen stated that the Department of the Treasury is issuing a “narrow scope, short-term license” allowing 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 license strictly applies to oil already in transit. (CCTV News)