The United States could withdraw sanctions on Iranian oil already shipped

Bessent’s comments to Fox Business came after a new spike in oil and gas prices after Iran attacked the largest liquefied natural gas plant (LNG) in Qatar and threaten to destroy the region’s energy infrastructure.

Bessent added in the interview that the US government It could also release more oil from its strategic reserves.

Donald Trump’s government tries to contain the runaway increase in energy costs after the joint attacks by Washington and Israel against Iran, which began on February 28.

Tehran’s retaliation virtually paralyzed commercial maritime traffic through the Strait of Hormuz, causing severe disruptions to energy supply chains.

In peacetime, approximately a fifth of oil and gas liquefied natural gas worldwide transits this strategic waterway.

The price of Brent crude oil – the international market reference – reached shoot up 10% in the first hours of the dayand then moderate its rise to 5%, standing at 112.76 dollars per barrel.

Recently, the United States also temporarily authorized the sale of sanctioned Russian oil that was already offshore.

On Wednesday, Trump temporarily suspended enforcement of a more than century-old shipping law in a bid to help ease energy prices.

The measure lifts for 60 days prohibiting foreign-flagged vessels from transporting cargo between US ports.