Business · 17 March 2026
Iran earns $140mn daily as US allows oil sales
Global crude oil markets avoid further destabilisation as the US permits Iran's sales, easing pressure on world supply. US Treasury secretary Scott Bessent confirmed on Monday that Washington allows these shipments despite sanctions, aiming to keep global markets supplied. About 24 million barrels of Iranian crude departed from Kharg Island via the waterway, transported by minimum of 13 large vessels.
Reported by Financial Times · How we write briefs