The United States has partially relaxed sanctions on Iranian oil in a bid to stabilise global energy markets rattled by its ongoing war with Iran, officials said.

Treasury Secretary Scott Bessent announced a limited, short-term authorisation allowing the sale of Iranian crude and petroleum products currently stranded at sea. The waiver will remain effective until April 19, according to the Treasury Department.

The move marks a significant shift from Washington’s longstanding sanctions policy, as global oil and gas prices continue to climb due to disruptions in shipping and production linked to the conflict.

Bessent said the measure could release around 140 million barrels of oil into the global market in the near term.

Before the conflict, China was the primary buyer of Iranian oil, purchasing supplies at discounted rates due to existing sanctions. The US hopes the temporary waiver may redirect some of that supply to countries such as India, Japan and Malaysia, while compelling China to pay market rates.

However, details on enforcement remain unclear, particularly regarding safeguards to prevent proceeds from reaching the Iranian government.

Analysts have raised concerns over the policy shift. Some warned that allowing oil sales could indirectly fund Iran’s war effort, while others questioned the overall impact on global prices.

Experts said the additional supply is unlikely to significantly alter market dynamics, noting that the scale of disruption caused by the war remains substantial.

The US has already taken steps to boost supply, including releasing strategic reserves and easing certain restrictions on Russian oil exports, a move that drew criticism from European leaders.

The conflict has severely disrupted shipments through the Strait of Hormuz, a key route for global oil transport. Industry estimates suggest roughly 10 percent of global supply has been affected since hostilities began in late February.

Concerns are also mounting over potential long-term damage to energy infrastructure, following exchanges of attacks on a major gas field jointly operated by Iran and Qatar.

Officials indicated Washington is continuing efforts to secure additional oil supplies as global markets remain under pressure.