US Temporarily Lifts Sanctions on Iranian Oil for 30 Days to Stabilize Global Market

According to Al Jazeera, U.S. Treasury Secretary Scott Bessent clarified that this emergency authorization applies strictly to oil shipments already in transit and does not cover new purchase orders.

The decision comes as the ongoing conflict between Iran and the U.S.-Israeli alliance severely disrupts supply chains through the Strait of Hormuz. With energy prices hitting record highs and threatening global economic stability, Washington has opted for this limited reprieve to prevent a complete market collapse. Analysts view this as a pragmatic tactical shift by the Trump administration amid the worsening Middle East crisis.