AdvertisementThe U.S. has not meaningfully imported Iranian oil since Washington imposed measures after the 1979 revolution. It was unclear whether any Iranian oil would end up in the country as a result of the waiver. The move is expected to benefit China, the top buyer of Iranian oil. AdvertisementBessent had telegraphed the move in an interview with Fox Business on Thursday, saying the release of the sanctioned Iranian oil into global supplies would help keep oil prices down for 10 to 14 days. “The easing of sanctions raises concerns about the rapid depletion of Washington’s economic toolkit,” to dampen oil prices, Erickson said.

Source: Huffington Post March 21, 2026 15:02 UTC