U.S. Pauses Sanctions on Some Iranian Oil to Get More to Market
Treasury Secretary Scott Bessent estimated that the move would add about 140 million barrels of crude to the oil market.
Treasury Secretary Scott Bessent estimated that the move would add about 140 million barrels of crude to the oil market.
President Trump and Prime Minister Benjamin Netanyahu of Israel suggested that the war with Iran could end soon, but that there were still more attacks ahead.
Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.
Iranian-linked ships carrying Russian oil were among those that received temporary exemptions from sanctions, a sign of how dire the energy crisis is becoming.
Governments have stockpiled oil, and cars are more efficient but the supply shock is global, and there’s no sense of when it’ll end.
Treasury Secretary Scott Bessent said it was “unfortunate” that the move could benefit Russia, but maintained that it was only for the short term.
Iranians cowered under the barrage as Pete Hegseth, the U.S. defense secretary, said the U.S. aimed to wipe out Iran’s capacity to obtain nuclear weapons “forever.”
Brazil, China and Russia all denounced the U.S.-Israeli attacks, but other nations in the BRICS group haven’t, even though Iran is a fellow member.
A request made to President Trump about the war in Sudan is at the heart of a diplomatic dispute between Saudi Arabia and the United Arab Emirates.