US loosens Iranian oil sanctions for ships at sea to ease soaring prices

The U.S. Treasury issued a temporary license allowing purchases of Iranian oil already loaded on ships, exempting buyers from sanctions through April 19 to help curb rising energy prices. Officials say the move could unlock hundreds of millions of barrels and relieve supply pressures, while stressing Iran won’t access most proceeds. The policy marks a wartime loosening of the “maximum pressure” approach and follows a similar temporary relief for Russian oil, drawing criticism from Democrats who warn it could bolster Tehran and Russia.