THE US Treasury Department on Friday issued a general licence temporarily lifting sanctions on Iranian oil at sea for 30 days to address the supply shortage amid shipping interruptions in the Strait of Hormuz.
The general license, issued by the department’s Office of Foreign Assets Control, authorized the delivery and sales of crude oil and petroleum products of Iranian origin loaded on vessels as of Friday.
Transactions for safe docking and anchoring of relevant vessels, preservation of health or safety of crew members, emergency repairs or environmental protection as well as various services were also allowed. Notably, transactions authorized by this general license include the importation into the United States of crude oil and petroleum products of Iranian origin.
“This temporary, short-term authorization is strictly limited to oil that is already in transit and does not allow new purchases or production,” said US Treasury Secretary Scott Bessent in an X post on Friday. — Xinhua