US lifts Iran oil sanctions in major retreat as energy crisis deepens
Washington scrambles to stabilize markets after its war with Israel against Iran backfires, crippling global supply and exposing strategic failures
WASHINGTON (MNTV) — The United States has abruptly lifted sanctions on a portion of Iranian oil stranded at sea, a dramatic reversal widely viewed by analysts as an admission that the joint US-Israeli war on Iran has spiralled beyond Washington’s control and is now battering global energy markets.
Treasury Secretary Scott Bessent announced a narrow, temporary waiver allowing the sale of crude and petroleum products already loaded on Iranian vessels.
The authorization, valid until 19 April, is expected to release roughly 140 million barrels into international markets — an emergency measure taken as oil and gas prices surge in response to the war’s disruption of shipping and production across the region.
The decision highlights the severe pressure facing Washington as its own military escalation contributes to a historic supply shock. Nearly one-fifth of global oil normally shipped through the Strait of Hormuz has been halted since the war began, with experts estimating that roughly 10% of the world’s supply has effectively been knocked offline.
Repeated US and Israeli strikes on Iranian assets — and Iran’s retaliatory attacks on regional energy infrastructure — have further destabilized long-term production.
Analysts say the waiver exposes the strategic failure of Washington and Tel Aviv’s attempt to cripple Iran. The US started this war expecting Iranian collapse, and now it is the US economy that is taking the hit. Washington is backtracking because it is stuck in a quagmire of its own making.
The lifting of sanctions signals the US-Israeli offensive has backfired economically and militarily, and the Trump administration is now working urgently to avoid political fallout from soaring fuel prices.
The Treasury Department has insisted the waiver will help redirect Iranian oil away from China — previously the main buyer — and toward countries like India, Japan and Malaysia.
But experts warn the policy is riddled with contradictions, as Washington is enabling sales that could directly increase Iran’s revenue even while waging an active war against the country.
Washington has already released millions of barrels from its strategic reserves and has temporarily eased sanctions on Russian oil — decisions that have infuriated European allies and signaled the breadth of the crisis.
Meanwhile, escalating attacks on the Iran-Qatar shared gas field have raised alarm over long-term supply damage, with experts warning that the war — initiated by US and Israeli strikes — could constrain fossil fuel output for years.
As Washington continues to scramble for solutions, critics say the core problem remains unchanged: a reckless military campaign that has destabilized global energy security and forced the US into a series of humiliating reversals.
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