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US Lifts Sanctions on 140 Million Barrels of Iranian Oil

Published March 21, 2026, 08:24
US Lifts Sanctions on 140 Million Barrels of Iranian Oil

The US has approved the sale and delivery of 140 million barrels of Iranian oil to international markets over the next 30 days, aiming to curb the rise in energy prices triggered by the war in the Middle East. US Treasury Secretary Scott Bescent stated that the measure aims to ease temporary market pressures. However, Iran denies having any crude oil cargoes available for sale. Brent prices have risen by more than 50% this month, while Middle Eastern oil has doubled in value, putting pressure on the US president and the Republican Party ahead of the midterm elections. The Trump administration seeks to maintain control of the Senate and the House, as prolonged inflationary pressures could undermine their prospects.