The United States has granted Iran temporary permission to resume exporting oil, in a move aimed at easing the global impact of the ongoing conflict on fuel prices.
The authorization is expected to remain in effect until April 19, 2026. During this period, more than 140 million barrels of Iranian oil that had been stranded at sea due to the conflict will be allowed to enter global markets, a development likely to influence oil prices.
Back in 2019, the United States imposed strict sanctions on Iran’s oil exports, also penalizing countries that purchased Iranian oil. Despite this, some nations including China continued buying Iranian oil at discounted prices under special arrangements.
With the new decision, China and other countries may resume purchasing Iranian oil at standard market rates.
However, Washington has not clarified how the temporary measure will be implemented, raising concerns that the revenue generated could be used by Iran to support its military activities.
Meanwhile, Iran has reiterated that it has no plans to reopen the Strait of Hormuz, a critical global shipping route located between Iran and Oman. The strait handles between 16 and 21 million barrels of oil per day about 20% of the world’s total supply.
Any disruption to this route has significant consequences for global energy markets, often leading to sharp increases in oil prices.
