The U.S. Treasury has authorized the purchase of Iranian oil that’s already at sea, exempting buyers from the tight sanctions that have restricted the country’s oil industry for years — a move aimed at stemming soaring prices amid the U.S.’s war with Iran. The sanctions license allows oil from Iran to be purchased if it was loaded onto a ship by 12:01 a.m. ET on Friday. The authorization lasts until April 19. They do not cover people located in North Korea, Cuba or the parts of Ukraine occupied by Russia. |
