US Removes Sanctions On Iranian Oil Stranded At Sea To Boost Overall Supply

On Thursday, Scott Bessent told Fox News that the US is considering unsanctioning Iranian oil, thereby making the 140 million barrels stuck on Iranian tankers, available to any buyer in the world and not just China, to ease the supply-chain bottlenecks that emerged after the Strait of Hormuz was blocked. In doing so, another formerly sanctioned US nemesis would be allowed free access to global markets, after Russia received a similar “temporary” permit a week earlier. “In the coming days we may unsanction Iranian oil that’s on the water, about 140 million barrels,” he said on Fox Business, adding that…