Dialogos

US May Lift Sanctions on Iranian Oil, Says Mnuchin

Published March 19, 2026, 17:02
US May Lift Sanctions on Iranian Oil, Says Mnuchin

The US is considering lifting sanctions on some Iranian oil that is already loaded on tankers, in an effort to increase global supplies and reduce prices. US Treasury Secretary Scott Mnuchin said this could involve approximately 140 million barrels, equivalent to 10-14 days of supply. This move follows the lifting of sanctions on Russian oil that was already loaded on ships. The US will take other measures to increase supply, including releasing reserves from the Strategic Petroleum Reserve. Mnuchin stressed that the US will not intervene in financial markets, but will focus on increasing physical supplies. Additionally, President Trump will discuss with the Japanese Prime Minister the participation of the Japanese navy in ensuring safe passage of ships through the Strait of Hormuz.