The administration of Donald Trump has issued a temporary waiver allowing limited transactions involving Iranian oil already at sea, aiming to stabilize global energy markets as prices surge amid ongoing conflict.

U.S. Treasury Secretary Scott Bessent said the 30-day waiver could release approximately 140 million barrels of oil into global supply, helping to reduce pressure after prices climbed more than 50%, surpassing $100 per barrel.

The decision comes as fighting between the United States, Israel, and Iran has disrupted energy flows, particularly through the critical Strait of Hormuz—a route that typically handles about 20% of the world’s oil and liquefied natural gas shipments.

According to the Treasury, the waiver applies only to oil already in transit and does not authorize new production or purchases. Officials argue this limits Iran’s ability to significantly benefit financially, while still injecting supply into strained markets.

However, the move has sparked criticism. Some analysts warn that easing sanctions—even temporarily—could indirectly support Iran’s economy during wartime. Others argue it signals that Washington may be running out of economic tools to manage rising energy prices.

The policy could also benefit major buyers such as China, which has been one of the largest importers of Iranian oil. Meanwhile, countries heavily dependent on Middle Eastern energy, including Japan, are closely monitoring the situation as they face supply disruptions.

U.S. officials maintain that the measure is short-term and strategic—designed to ease immediate market pressures without fundamentally altering the broader sanctions regime against Iran.