According to the data, restrictions on the trade of oil and petroleum products from Iran have been lifted for a period of 30 days, until April 19. This applies to those shipments that were dispatched and in transit as of March 20.
According to U.S. Treasury Secretary Scott Bessent, around 140 million barrels of Iranian oil could enter global markets. This decision is aimed at alleviating the shortage and may help reduce prices, which have sharply increased due to Tehran's blockade of commercial shipping in the Strait of Hormuz. It is worth noting that this situation is related to the ongoing war between the U.S. and Israel against Iran, which has now lasted for four weeks.
Before the conflict began, China was the main buyer of Iranian oil.
It is also worth mentioning that the U.S. had previously temporarily eased sanctions on Russian oil, which was a similar step in light of the current global issues in the energy market.
