The US says the move will bring 140 million barrels of oil to markets, even as Iran says it has no surplus crude to sell globally
The authorisation allows for the delivery and sale of Iranian crude oil and other petroleum products loaded onto ships before March 20, and will last through April 19, the Treasury said in a statement.
“At present, sanctioned Iranian oil is being hoarded by China on the cheap,” Bessent said in a statement.
Source: News - South China Morning Post
