US-Iran War: US Sanctions on Iranian Oil At Sea to Ease Crisis
In a major policy shift amid the ongoing US-Iran war, the United States has temporarily lifted sanctions on Iranian oil already at sea to ease the global energy crunch triggered by the Strait of Hormuz crisis. The 30-day waiver could release nearly 140 million barrels of crude into international markets, aiming to stabilise soaring oil prices and reduce supply disruptions.
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