Washington, March 17: U.S. Treasury Secretary Scott Besant announced that the United States is permitting Iranian oil tankers to pass through the Strait of Hormuz, despite ongoing conflicts. This decision is part of efforts to stabilize global energy supplies.
Besant told CBS News, “We are seeing an increasing number of fuel ships coming and going. Iranian vessels have already departed, and we have allowed this to happen to supply the rest of the world.”
He further noted that Indian and Chinese ships are also navigating through the area. “We have now seen Indian ships leaving. Therefore, for those heavily reliant on Gulf oil, we believe some Chinese vessels have also departed,” he added.
Tensions in the Middle East have escalated due to attacks involving Iran and Israel, leading to a surge in oil prices. U.S. crude has reached $100 per barrel amid fears of disruptions at one of the world’s most critical maritime chokepoints, the Strait of Hormuz.
Besant expressed hope that shipping activities would gradually increase without the need for military escorts. “We believe there is a natural likelihood of the route opening from Iran, and for now, we are satisfied with this situation. Our goal is to ensure the world receives adequate supplies,” he stated.
The government has also taken steps to alleviate supply pressures by granting temporary exemptions on existing Russian oil shipments at sea. “We provided a 30-day exemption for Russian oil already on the water, amounting to approximately 130 million barrels,” he explained.
To reduce disruptions, Saudi Arabia and the United Arab Emirates have shifted some exports away from the Gulf. The global strategic petroleum reserve has also been utilized. Besant remarked, “The global SPR release is the largest to date, totaling 400 million barrels.”
The Treasury Secretary described the large military campaign as an effort to weaken Iran’s regional influence. He stated, “President Trump has made it clear that his goal is to diminish and eliminate the government’s capabilities and military strength.” Besant emphasized that Washington aims to eliminate Iran’s ability to project power beyond its borders.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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