But Iran's attacks are still choking off oil supplies and raising food and fuel prices far beyond the Middle East. Meanwhile, US officials announced that the Trump administration will lift sanctions on Iranian oil stranded at sea under a one-month license as the White House tries to bring down soaring oil prices. The pause applies to Iranian oil loaded on ships as of Friday and is set to end April 19. The move came after a string of Iranian attacks on other troops at British, French and Italian bases in the country. Treasury Secretary Scott Bessent previously suggested the newly announced pause for sanctions on Iranian oil as a way to prevent China from being the sole beneficiary of Iranian oil.

Source: The Telegraph March 21, 2026 10:32 UTC