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From the Liveblog of
Friday, March 20, 2026
From the Liveblog of
Friday, March 20, 2026
US okays temporary trade of oil from Iran already at sea to curb supply crisis
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Illustrative: Iranian oil tanker Fortune is anchored at the dock of the El Palito refinery near Puerto Cabello, Venezuela, May 25, 2020. (AP Photo/Ernesto Vargas)
WASHINGTON — The US Treasury temporarily lifts sanctions on Iranian oil loaded onto vessels before March 20, in Washington’s latest step to stem a supply crisis over the Middle East war.
The authorization allows for the delivery and sale of crude oil and other petroleum products already on Iranian ships, and will last until April 19, the Treasury said in a statement.
The move by the Office of Foreign Assets Control, which Treasury Secretary Scott Bessent said Thursday was under consideration, follows a similar lifting of sanctions on Russian oil at sea. Friday’s authorization does not apply to deliveries of oil to Cuba, North Korea or Russian-occupied areas of Ukraine.
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