US Temporarily Allows Iranian Oil Imports to Stabilize Prices
The US has temporarily allowed the purchase of Iranian oil already at sea under a Treasury license valid until April 19, aiming to curb rising prices during the ongoing conflict with Iran.
ERBIL (Kurdistan24) - In a calculated move amid escalating conflict and rising energy costs, the United States has temporarily lifted key restrictions on Iranian oil, allowing limited transactions in an effort to contain soaring prices.
The US Treasury has authorized the purchase of Iranian oil already at sea, exempting buyers from longstanding sanctions that have constrained Iran’s oil sector for years.
The authorization applies to crude oil and petroleum products of Iranian origin that were loaded onto vessels on or before 12:01 a.m. eastern daylight time on March 20, 2026. The measure remains in effect until 12:01 a.m. eastern daylight time on April 19, 2026.
Issued by the Department of the Treasury’s Office of Foreign Assets Control under General License U, the decision permits transactions ordinarily necessary for the sale, delivery, or offloading of such oil, including oil carried by vessels previously subject to sanctions.
The license also covers a range of operational and safety-related activities, including docking and anchoring of vessels, ensuring the health and safety of crew members, emergency repairs, and environmental protection measures. Additional authorized services include vessel management, crewing, bunkering, piloting, registration, insurance, classification, and salvage.
The authorization extends to transactions involving oil produced by entities sanctioned under multiple regulatory frameworks, including the Iranian Transactions and Sanctions Regulations, Iranian Financial Sanctions Regulations, and Global Terrorism Sanctions Regulations.
It also allows the importation of Iranian-origin crude oil and petroleum products into the United States when such imports are directly tied to the permitted sale, delivery, or offloading activities.
However, the general license explicitly excludes any transactions involving individuals or entities connected to the Democratic People’s Republic of Korea, the Republic of Cuba, or designated regions of Ukraine, including Crimea. It also does not override prohibitions under other executive orders or regulatory provisions not specified in the license.
The move comes as part of efforts to address rising oil prices during the ongoing US war with Iran.
As markets react to mounting pressures, Washington’s temporary easing signals a targeted attempt to stabilize prices while maintaining the broader framework of sanctions.