US lifts sanctions on some Iranian oil as energy prices soar

NEWS SUMMARY

The US is considering lifting sanctions on some Iranian oil to increase global supply and potentially lower soaring energy prices, as stated by Treasury Secretary Scott Bessent. This proposal, aimed at diverting oil from China to other nations, faces scrutiny over its limited impact and potential to fund the Iranian regime.

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The treasury secretary says the move will quickly bring about 140m barrels of oil to global markets.

US lifts sanctions on some Iranian oil as energy prices soar

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