WASHINGTON (TNND) — The Trump administration is temporarily lifting sanctions on Iranian oil stranded at sea under a one-month license, a move aimed at easing pressure on rising global energy prices, according to reports.
FILE – A pump jack is seen at sunset on March 16, 2026 in Midland, Texas. (Photo by Brandon Bell/Getty Images)
The Associated Press reported that the waiver applies to Iranian oil already loaded onto ships as of Friday and will remain in effect through April 19.
Treasury Secretary Scott Bessent has suggested the step could help prevent China from becoming the primary beneficiary of the stranded oil supplies.
In a related move, the administration has also eased restrictions on certain Russian oil shipments for 30 days as it looks to increase global supply amid the ongoing Iran conflict, according to the AP.
The temporary license includes limitations, including a prohibition on transactions involving parties in North Korea or Cuba.
Earlier on Friday, President Donald Trump said he is considering “winding down” operations in the Middle East, although the U.S. is sending more troops to the region. He listed the five following goals for the operations in a post he shared on Truth Social:
Trump also spoke to reporters on the White House lawn before he headed to Florida for the weekend, saying he thinks NATO lacks the courage to help the U.S. with the Strait of Hormuz.
The Strait of Hormuz remains a key shipping route as energy markets remain shaken from the route’s blockage. According to a new Reuters/Ipsos poll, 55% of Americans said the war’s effect on gas prices impacted their overall finances.
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EDITOR’S NOTE: The National News Desk’s Maria Tedesco and the Associated Press contributed to this report.
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