Iran, Bessent: “Green light to sale of Tehran oil already in transit”

Washington, Mar. 21 (LaPresse) – “The Treasury Department has issued a short-term authorization, specifically targeted, that allows the sale of Iranian oil currently stranded at sea. At the moment, Iranian oil subject to sanctions is being stockpiled by China at bargain prices. By temporarily unlocking this existing supply for the world, the United States will quickly bring about 140 million barrels of oil to global markets, increasing the amount of energy worldwide and helping to ease temporary supply pressures caused by Iran”. This was stated on X by Treasury Secretary Scott Bessent. “In essence, we will use Iranian oil against Tehran to keep the price low while we continue Operation Epic Fury”, he explains. “This temporary and short-term authorization is strictly limited to oil already in transit and does not allow new purchases or production. In addition, Iran will have difficulty accessing any revenue generated and the United States will continue to maintain maximum pressure on Iran and its ability to access the international financial system”. “So far”, he continues, “the Trump administration has worked to put about 440 million barrels of additional oil on the global market, undermining Iran’s ability to exploit its disruptive actions in the Strait of Hormuz”. “President Trump’s pro-energy agenda has brought oil and gas production in the United States to record levels, strengthening energy security and reducing fuel costs. Any short-term disruption will ultimately translate into long-term economic benefits for Americans, because there is no prosperity without security”, he concludes.