The American gift to Iran in the middle of the war

The United States may soon lift sanctions on a part of the Iranian oil industry, precisely in the midst of the war, said today (Thursday) American Treasury Secretary Scott Besant. According to him, the step was considered to lower oil prices, which continue to remain very high, alongside the lifting of sanctions from Russia.

“In the coming days, we may remove the sanctions from the Iranian oil that is in the sea. It is about 140 million barrels,” Besant said in an interview with the Fox network. Basant noted that the flow of Iranian oil, which was under sanctions, to the world market will help keep oil prices low during the next 10 to 14 days. Oil prices have been above $100 a barrel for most of the past two weeks, after Iran closed the Strait of Hormuz to shipping and attacked tankers.

On the ground, the American military has already refrained from attacking Iranian oil tankers, so as not to lead to a further increase in oil prices. About 90 ships with millions of barrels have crossed the Strait of Hormuz since the start of the war, the Associated Press reported, based on data from ship tracking companies. According to estimates, most of these ships are related to Iran or its allies.

This policy was explicitly stated by US Treasury Secretary Scott Bessant in an interview with CNBC. “The Iranian ships are crossing, and we are letting it happen to ensure supplies to the rest of the world,” Besant clarified.

At the same time, another rival of the United States may also benefit from the situation. The US Treasury Department eased some of the sanctions on the Russian oil industry to increase the supply of oil in the market, which the ministry said added about 130 million barrels to the global supply.

Besant added that the US will take additional steps to increase supply, including the release of barrels of oil from the strategic reserves, in addition to the release of 400 million barrels by the G7 countries. The high oil prices worry the White House and the West, and serve as leverage for Iran against the United States. Prices rose after Iran blocked the Strait of Hormuz and attacked the energy infrastructure of countries the bay.