The Trump administration lifted sanctions on Iranian oil stranded at sea on Friday evening, allowing the vessels to sell their cargo, the Treasury Department said.
The Treasury Department said in a statement, “Today, the Department of the Treasury is issuing a narrowly tailored, short-term authorization permitting the sale of Iranian oil currently stranded at sea.”
The action was described as limited and temporary by the department. It comes as tensions between the U.S. and Iran have pushed global energy costs higher.
The Treasury Department did not provide additional details on the authorization or its duration in the statement.
Jon Ross Myers is the executive editor and publisher of the Mississippi News Network, Mississippi's largest digital only media company. He can be reached at editor@tippahnews.com
