To stabilize international oil prices, temporarily allow sales of Iranian crude oil

TechubNews · 2026-03-21T03:22:54+00:00

To address rising international oil prices, the United States has decided to allow the sale of Iranian crude oil already loaded at sea to ease the impact on oil prices from conflicts with Iran. This measure will continue until April 19 and applies only to crude oil in transit, with no involvement in new purchases. The United States simultaneously plans to stabilize the market by increasing crude oil supply.

TechubNews

2026-03-21 03:22:54

Abstract generation in progress

To curb recent increases in international oil prices, the United States has decided to temporarily allow the sale of Iranian crude oil. As a measure to alleviate the surge caused by the Iran conflict, the U.S. will temporarily loosen restrictions on the sale of Iranian oil already loaded at sea.

According to a statement from the U.S. Department of the Treasury, the sale of Iranian crude oil loaded onto ships before 12:01 a.m. New York time on March 20 is permitted until 12:01 a.m. on April 19. This measure is implemented under a general license issued by the Office of Foreign Assets Control (OFAC), aiming to supply oil to the international market within a limited timeframe, considering Iran’s specific circumstances.

U.S. Treasury Secretary Janet Yellen pointed out that China is purchasing and stockpiling large quantities of Iranian crude at low prices. The U.S. plans to release approximately 140 million barrels of this stored oil into the international market, aiming to suppress rising global oil prices. It is expected that this move could address supply shortages caused by the Strait of Hormuz blockade for about three weeks.

This measure only applies to oil already in transit and does not include new oil purchases or production. The U.S. continues to block Iran’s international financial channels, making it difficult for Iran to benefit from the sanctions. Iran responded by stating it no longer has additional offshore oil inventories, and that the U.S. measures are merely attempts to give buyers hope.

The rise in international oil prices has placed significant political pressure on the Donald Trump administration. In response, the U.S. has decided to import some previously sanctioned Russian crude oil and plans to release 86 million barrels from its Strategic Petroleum Reserve out of a total of 172 million barrels. Despite these efforts, international oil prices remain high. How this trend will develop and how quickly the market can stabilize remain key issues.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.