US Temporarily Eases Ban on Iranian Oil Shipments in Strait of Hormuz Amid Supply Concerns

Kathmandu. Amid the ongoing shipping disruption in the Strait of Hormuz, the United States has issued permission to temporarily lift the ban on Iranian oil in the maritime sector for 30 days to address supply shortages.

The US Department of State on Friday permitted the transport and sale of crude oil and petroleum products of Iranian origin loaded onto vessels.

It was stated that permission was also granted for the safe transfer of related vessels, protection of crew health or safety, emergency repairs, environmental protection, and various other services.

The permission includes the import of crude oil and petroleum products of Iranian origin into the United States for transactions. US sources indicated that permission is limited only to oil in transit with temporary and short-term restrictions, and new purchases or production will not be permitted.

Washington had previously eased restrictions on additional Russian and Venezuelan oil from emergency oil reserves with the support of the International Energy Agency. The conflict between the United States, Israel, and Iran has been ongoing for three weeks, severely disrupting shipping through the Strait of Hormuz.