US Considers Easing Iran Oil Sanctions to Tackle Global Energy Crisis

The United States is weighing the possibility of easing sanctions on some Iranian oil exports as it seeks to stabilize global energy markets affected by the ongoing conflict in Iran.

Treasury Secretary Scott Bessent said allowing limited Iranian oil sales could increase global supply and help bring down rising prices. The proposal includes potentially lifting restrictions on around 140 million barrels of Iranian oil already at sea, which could temporarily ease prices for up to two weeks.

However, the move would mark a major shift in long-standing US policy toward Iran and has raised concerns among experts. Critics warn that easing sanctions could indirectly fund Iran’s government at a time when tensions remain high. Some analysts also believe the impact on global oil prices would be minimal, as the volume involved is relatively small and much of the oil is already reaching markets.

Before the conflict, China was the main buyer of discounted Iranian oil. The US hopes easing restrictions could redirect supply to countries like India, Japan, and Malaysia, while forcing China to pay higher market rates.

The proposal comes as global oil prices surge due to disruptions in supply routes, particularly the Strait of Hormuz, a critical passage for nearly 20% of the world’s oil trade. Since the conflict escalated, shipping through the route has been severely affected, reducing global supply.

Experts say the consideration of such a policy highlights the severity of the current energy crisis, with the US exploring all options to offset supply shortages and prevent further market instability.