U.S. Treasury Secretary Bessent announces temporary license for Iranian oil sales, aiming to stabilize global energy supply amidst tensions.
U.S. Treasury Secretary Scott Bessent made a statement regarding the issue through the account of company X, based in the United States, on the social media platform.
Bessent described Iran as the 'head of the snake' in terms of global terrorism, stating that thanks to President Donald Trump's 'Epic Fury Operation,' they have won this 'vital struggle' faster than anticipated.
Bessent stated, 'In response to Iran's terrorist attacks on global energy infrastructure, the Trump administration will continue to use America's economic and military power to maximize the flow of energy to the world, strengthen global supply, and ensure market stability.'
U.S. Treasury Secretary Bessent noted that a narrow and short-term general license has been issued that allows for the sale of Iranian oil currently at sea.
Pointing out that sanctioned Iranian oil is being stockpiled cheaply by China, Bessent conveyed that with the temporary release of this existing supply, the U.S. would quickly bring approximately 140 million barrels of oil to the global market, thereby increasing the amount of energy worldwide and helping to alleviate the temporary pressures on supply that Iran is held responsible for.
Bessent assessed, 'Essentially, while continuing the 'Epic Fury Operation,' we will use Iranian oil against Tehran to keep prices low.'
He emphasized that this temporary and short-term license is limited only to oil that is currently in the transportation phase, noting that new purchases or production are not permitted.
Bessent also stated that Iran would face difficulties in using the revenues obtained, and that the U.S. would maintain maximum pressure on Iran and the country's access to the international financial system.
Arguing that the Trump administration has worked to add approximately 440 million barrels of additional oil to the global market, thereby weakening Iran's ability to exploit disruptions in the Strait of Hormuz to its advantage, Bessent expressed that Trump's energy-friendly agenda has raised U.S. oil and natural gas production to record levels, strengthened energy security, and reduced fuel costs.
Bessent remarked, 'Any short-term disruption that occurs now will ultimately translate into long-term economic gains for Americans because there can be no prosperity without security.' According to the general license published by the U.S. Treasury Department, temporary permission has been granted for the sale, delivery, or discharge of Iranian-origin crude oil and petroleum products loaded onto vessels before 00:01 local time on March 20. This permission will be valid until 00:01 local time on April 19.
Source: SeaNews Türkiye
