The United States has granted Iran a 30-day permission to sell its crude oil on the global market, easing restrictions on maritime purchases, according to the report.
The move is described as an effort by President Donald Trump’s administration to bring down oil prices that have risen amid the US-Israel war. With the temporary relaxation, an estimated 140 million barrels of Iranian crude currently held on ships are expected to enter the market.
In a statement cited in the report, US Treasury Secretary Bessent said Iran is a leading source of global terrorism and claimed the administration’s “Operation Epic Fury” is progressing faster than expected.
He added that, in response to what he called Iran’s attacks on global energy infrastructure, the administration would continue using America’s economic and military strength to increase energy supply, strengthen global distribution and ensure market stability.
The report also said the Trump administration has been working to bring an additional 440 million barrels into global markets, while its energy policy has increased US oil and gas output, which it says has strengthened energy security and reduced fuel costs.
