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US Treasury issued a 30-day waiver (March 20–April 19, 2026) allowing sales of ~140 million barrels of Iranian oil already loaded on ships at sea.
This floods global markets to help lower surging oil prices caused by the ongoing US-Israel war with Iran (Operation Epic Fury, started Feb 28, 2026).
Treasury Secretary Scott Bessent calls it using Iran's own oil "against Tehran" to keep prices down, claiming Iran gets little revenue benefit.
It's not full unsanctioning just a narrow, temporary exception for stranded cargoes amid the conflict. Critics see it as contradictory while fighting Iran militarily.