U.S. Treasury Unlocks Sanctioned Iranian Oil to Cut Prices and Counter Tehran’s Energy Attacks

TLDR: U.S. Treasury issued a short-term authorization releasing 140 million barrels of stranded Iranian oil to global markets. China had been quietly hoarding sanctioned Iranian oil at discounted prices before the Treasury intervened with this measure. Iran will struggle to access revenue from the oil sales as maximum pressure on its financial system stays fully [...]

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