The U.S. Treasury has authorized the purchase of Iranian oil that is already at sea, exempting buyers from the strict sanctions that have restricted the country’s oil industry for years. This move aims to help stem soaring prices amid the ongoing tensions between the U.S. and Iran.
Under the new sanctions license, oil from Iran can be purchased only if it was loaded onto a ship by 12:01 a.m. ET on Friday. This authorization is temporary and will last until April 19.
This is a breaking story and will be updated as more information becomes available.
https://www.cbsnews.com/news/trump-administration-temporarily-lifts-sanctions-on-iranian-oil-at-sea/