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US temporarily lifts sanctions on Iranian oil
The US has temporarily lifted sanctions on Iranian oil, allowing about 140 million barrels to enter global markets. This move follows similar actions for Russian oil and aims to ease supply pressures amid the Middle East conflict.
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Summary
The US Treasury temporarily lifted sanctions on Iranian oil already loaded onto vessels, in Washington's latest step to stem a supply crisis over the Middle East war. The authorisation allows for the delivery and sale of Iranian crude oil and other petroleum products loaded onto ships before Mar 20, and will last through Apr 19.
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