Treasury Secretary Scott Bessent defended the relaxation of sanctions on Iranian oil and the U.S. military strikes on Tehran’s infrastructure
Last week, the Treasury Department relaxed certain sanctions on Iran, thereby permitting the sale of Iranian oil that was previously stranded at sea. On Sunday, Bessent, on “Meet the Press” on NBC News, explained that this move was designed to tackle the escalating energy costs.
He also announced that this decision is expected to introduce approximately 140 million barrels of oil into the global markets, thereby relieving temporary supply pressures instigated by Iran.
Despite the ongoing conflict, the decision to economically empower Iran was questioned by some experts. To this, Bessent responded that the oil was always meant to be sold to China at a discounted rate. He referred to the decision as “jujitsuing the Iranians” by turning their own oil against them.
When questioned about the potential impact on consumer prices, Bessent refrained from providing a …
This post was originally published here
