← March 21, 2026 briefingEconomy
US Issues Sanctions Waiver on Iranian Oil at Sea
The Trump administration has granted a 30-day sanctions waiver allowing buyers to purchase Iranian oil already at sea, the third such waiver in roughly two weeks as the US-Israeli war on Iran squeezes global energy supply. Treasury Secretary Scott Bessent says the move will bring 140 million barrels to market, though he insists Tehran won't see the proceeds. Australia, Japan, and South Korea have all declined to send warships to help secure the Strait of Hormuz, leaving Trump visibly irritated.
