The Trump administration will lift sanctions on Iranian oil stranded at sea under a one month license, while the president looks to seize Iranian nuclear materials.
The pause, which applies to Iranian oil loaded on ships as of Friday and is set to end on April 19, comes as the White House tries to bring down soaring oil prices, though President Donald Trump did suggest he’s considering winding down the strikes.
‘President Trump’s pro-energy agenda has driven US oil and gas production to record levels, strengthening energy security and lowering fuel costs. Any short-term disruption now will ultimately translate into longer-term economic gains for Americans – because there is no prosperity without security,’ he added.
He said that this new move, using the Iranian barrels, will ‘keep the price down’ for American consumers, who have been subject to hefty gas prices in recent weeks.