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Bessent: US May Lift Sanctions on Stranded Iranian Oil

Scott Bessent, President-elect Donald Trump's choice to be Secretary of Treasury, is seen as he meets with Senate Majority Leader Chuck Schumer, D-N.Y., (not pictured) at the Capitol in Washington, D.C. (Yuri Gripas/AP/2025 file)

Thursday, 19 March 2026 08:53 AM EDT

The U.S. may soon remove sanctions from Iranian oil that is stranded on tankers to help lift global supplies and reduce prices, U.S. Treasury Secretary Scott Bessent said Thursday.

"In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent said in a television interview.

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