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US-Israeli strikes on Iran

US to secure access to global markets for 140 mln barrels of Iranian oil

Treasury Secretary Scott Bessent says that the general license will help to relieve the temporary pressures on markets caused by Iran

WASHINGTON, March 21. /TASS/. The United States expects a general license from the country’s Department of the Treasury to provide access to global markets for 140 mln barrels of Iranian oil, US Treasury Secretary Scott Bessent said.

The issuance of a general license allowing operations with Iranian oil within a month "will quickly bring approximately 140 million barrels of oil to global markets, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran," Bessent wrote on his X page.

"This temporary, short-term authorization is strictly limited to oil that is already in transit and does not allow new purchases or production. Further, Iran will have difficulty accessing any revenue generated," he added.

Earlier, the US Department of the Treasury issued a general license permitting the sale of Iranian oil loaded onto tankers before March 20 for one month, until midnight on April 19.

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