US Treasury considering lifting sanctions on Iranian oil

"In essence, by the time we unsanctioned the floating Iranian oil, we would have intervened and we would have created about 260 million excess barrels of energy," Bessent said.

He explained that these volumes could offset a potential shortfall in case of supply disruptions through the Strait of Hormuz.

According to the US Treasury, the additional oil could cover a deficit of 10–14 million barrels per day and stabilize the market for roughly three weeks.

Bessent also recalled that last week, a record release of 400 million barrels from the US Strategic Petroleum Reserve was agreed.

"The US could unilaterally do another SPR release to keep the price down," he added.

He noted that this policy is intended to combine pressure on Iran with the need to maintain stability in the energy market. In particular, the US is deliberately refraining from strikes on Iran’s energy infrastructure to avoid provoking supply disruptions.

Amid the US and Israel’s confrontation with Iran, the situation in energy markets has sharply intensified. One of the key risks remains the Strait of Hormuz, through which a significant portion of global oil supplies passes.

Fears of disruptions have already caused price fluctuations, so the US is seeking ways to quickly offset potential shortages and stabilize the market.

Washington has already partially eased restrictions on Russian oil, citing the need to stabilize supply.

The US leader also did not rule out that some sanctions could be lifted permanently.