DUBAI, United Arab Emirates (AP) — 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.
Treasury Secretary Scott Bessent previously suggested the move as a way to prevent China from being the sole beneficiary of Iranian oil.
The administration also eased sanctions on certain Russian oil shipments for 30 days as the U.S. looks for ways to boost global oil supplies during the Iran war.
The license has limits including a restriction on sales involving anyone in North Korea or Cuba.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
DUBAI, United Arab Emirates (AP) — Three weeks into an escalating war in the Middle East, Iran threatened Friday to expand its retaliatory attacks to include recreational and tourist sites worldwide, as the U.S. announced it was sending more warships and Marines to the region.
Hours later, President Donald Trump said on social media that his administration in fact was considering “winding down” military operations in the region. His post came after another climb in oil plunged the U.S. stock market.
The mixed messages came as the war has shown no signs of abating.
Iran launched more attacks on Israel and energy sites in neighboring Gulf Arab states, and the region marked one of the holiest days on the Muslim calendar. Iranians were also celebrating the Persian New Year, known as Nowruz, a normally festive holiday, as Israeli airstrikes landed in Tehran.
Source: WPLG
