Bessent makes stunning claim about Iran and its oil [Yahoo! Finance]
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Source: Yahoo! Finance
It decided to use Iran's own oil against it. Treasury Secretary Scott Bessent told Fox Business Network's "Mornings with Maria" that the U.S. was preparing to lift sanctions on approximately 140 million barrels of Iranian crude already sitting on tankers at sea. The move, he said, was designed to add supply to global oil markets and cap prices as U.S. and Israeli military operations against Iran continued. "In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent said. "In essence, we will be using the Iranian barrels against the Iranians to keep the price down for the next 10 or 14 days as we continue this campaign. So we have lots of levers." What Bessent actually announced The 140 million barrels represent Iranian crude that had been stranded or flowing at steep discounts, primarily to China, under existing sanctions. Temporarily lifting those restrictions would allow the oil to reach global markets at full pric
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