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US Considers Lifting Some Sanctions on Iranian Oil to Lower Price

Published March 20, 2026, 10:10
US Considers Lifting Some Sanctions on Iranian Oil to Lower Price

The US is considering lifting some sanctions on Iranian oil as a measure to reduce the global price, almost three weeks after the US-Israeli attacks on Iran that led to an increase in energy prices. US Treasury Secretary Scott Besett stated that they could lift sanctions on approximately 140 million barrels of Iranian oil already at sea and destined for China, using the Iranian barrels to keep prices low for the next 10-14 days. This move is reminiscent of the previous easing of sanctions on Russian oil, aiming to increase supply to the market. However, analysts point out the contradiction of the move, as it allows Iran to sell oil while the US is in confrontation with the country. Germany expressed its reaction, emphasizing that lifting sanctions would stabilize a regime that is contrary to their values. The easing of sanctions, in terms of barrels, represents less than two days of global consumption. However, it is expected that China will be the big winner from this move, as it is the main buyer of Iranian oil. The move aims to prevent further increases in gasoline and diesel prices, but its effectiveness is questioned. Some analysts question the ability of lifting sanctions to significantly affect prices, while others emphasize that it shows the government's willingness to take measures to protect consumers. The situation remains fluid and the duration of the sanctions easing has not been clarified.