U.S. Authorizes Delivery of Sanctioned Iranian Oil Amid Hormuz Tensions

In a move aimed at easing supply concerns, the U.S. Treasury's Office of Foreign Assets Control (OFAC) on Friday issued a new general license authorizing the delivery and sale of Iranian-origin crude oil and petroleum products already loaded onto ships as of the date of the license. According to reporting from gCaptain, this decision comes as the ongoing crisis in the Strait of Hormuz has strained global energy markets. Tensions in the strategic waterway, through which about a fifth of the world's oil supply flows, have escalated in recent months following a series of attacks on oil tankers and the downing of a U.S. drone by Iran. 'The move appears to be an effort by the Trump administration to avoid further disruption to global oil supplies and prices,' said an industry analyst quoted by gCaptain. 'By allowing the delivery of oil that was already loaded, it provides some relief without fully easing the sanctions pressure on Iran.' The new OFAC license is valid for 90 days and applies to the maritime transport of the Iranian oil, as well as related financial transactions and shipping services. However, it does not authorize any new purchases of Iranian oil, which remain prohibited under U.S. sanctions. The decision to unlock these sanctioned oil cargoes comes as the maritime industry continues to navigate the complex web of regulations and geopolitical risks impacting global energy trade. As The Maritime Executive reports, shipowners and operators must carefully assess sanctions compliance and insurance coverage when engaging in Iranian-related business, even for pre-existing contracts. 'This is a delicate balancing act for the U.S. government,' the industry analyst told gCaptain. 'They want to maintain pressure on Iran through sanctions, but also avoid further destabilization of global oil markets. This temporary authorization is an attempt to thread that needle.'