US Temporarily Lifts Sanctions on Iranian Oil to Ease Energy Crisis

The US announced a temporary 30-day lifting of sanctions on the sale and delivery of Iranian oil already loaded onto tankers by March 20, which must be unloaded by April 19. The measure is intended to release tens of millions of barrels of already-purchased oil onto the global market to ease energy price pressure and buy Washington more time to achieve war aims. At current prices, the amount of oil involved is worth over $14 billion for Tehran. Energy experts warned the measure is unlikely to make a material difference to the broader energy crisis. IEA head described the situation as the 'greatest global energy security challenge in history.'