US Issues Temporary Authorization For Purchase Of 'Stranded' Iranian Oil
The US Treasury on March 20 said it was issuing temporary authorization for the delivery and sale of Iranian crude oil and petroleum products already at sea.
The move marks the second action easing sanctions on oil against two of the most heavily sanctioned countries in the world -- Iran and Russia, which received a similar waiver on March 12.
Oil prices have surged on world markets amid the US-Israeli war with Iran and Tehran's retaliatory strikes against the energy infrastructure of US Gulf Arab allies.
In the latest statement, US Treasury Secretary Scott Bessent said the United States was "issuing a narrowly tailored, short-term authorization permitting the sale of Iranian oil currently stranded at sea."
"Sanctioned Iranian oil is being hoarded by China on the cheap. By temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding the amount of worldwide energy, and helping to relieve the temporary pressures on supply caused by Iran," he added.
Bessent said the temporary authorization "is strictly limited to oil that is already in transit and does not allow new purchases or production."
He also said Tehran Iran will have "difficulty accessing any revenue generated and the United States will continue to maintain maximum pressure on Iran and its ability to access the international financial system."
Earlier on March 20, Iran rejected the suggestion that the move would put 140 million barrels into the system, saying it had no surplus crude oil to offer to international markets.
"Currently, Iran basically has no surplus crude oil left on the water or for supply in other international markets, and the US treasury secretary's statement is solely aimed at giving hope to buyers," Iranian oil ministry spokesman Saman Ghoddoosi wrote on X.
The move comes after the Treasury on March 12, said the United States was allowing a temporary purchase of Russian oil already at sea in an effort to stabilize markets, raising the ire of many US Democrats, the European Union, and Ukrainian President Volodymyr Zelenskyy, whose country is a battle for its life against an all-out Russian invasion.
Iran Says It Has No Surplus Oil At Sea For World Markets
Iran says it has no surplus crude oil at sea to offer to international markets following remarks by the US Treasury chief indicated that Washington could lift sanctions on Iranian oil at sea to help ease the global crisis. “Currently, Iran basically has no surplus crude oil left on the water or for supply in other international markets, and the US Treasury secretary’s statement is solely aimed at giving hope to buyers,” Iranian oil ministry spokesman Saman Ghodousi wrote on X. US Treasury Secretary Scott Bessent on May 19 said Washington might lift sanctions on Iranian oil already in transit to slow rising gas prices during the war in Iran. Bessent told Fox Business that about 140 million barrels of oil would be released. "That's about 10 days to two weeks of supply that the Iranians had been pushing out that would have all gone to China," Bessent said. "In essence, we will be using the Iranian barrels against the Iranians to keep the price down for the next 10 or 14 days as we continue this campaign."
Trump: 'I Don’t Want To Do A Cease-Fire'
US President Donald Trump said he sees no reason to seek a cease-fire in the war with Iran and again urged other countries -- including China -- to help open the Strait of Hormuz.
“Look, we can have dialogue, but I don’t want to do a cease-fire,” Trump told reporters on March 20. “You know, you don’t do a cease-fire when you’re literally obliterating the other side.”
Iran has effectively blocked the Strait of Hormuz, a crucial corridor for hydrocarbon shipments from Persian Gulf countries to global markets, causing oil prices to rise and hitting consumers paying more for gasoline and other products worldwide.
“All they’re doing is clogging up the strait, but from a military standpoint, they’re finished,” Trump said of Iran. Asked whether Israel will be ready to end the war when the US is ready, he said, “I think so.”
Trump said that opening the Strait of Hormuz would be “a simple military maneuver” and “relatively safe, but you need a lot of help in the sense that you need ships, you need volume.
“NATO could help us, but they so far haven’t had the courage to do so, and others could help us,” he said, adding that “it would be nice if the countries that use it...would get involved” and singling out China as one of them.
NATO Relocates Iraq Mission To Europe Amid Rising Security Risks
NATO's top commander said the Western military alliance is relocating its mission in Iraq to Europe due to the tense security situation in the Middle East in the midst of the war in Iran.
"I would like to thank the Republic of Iraq and all the Allies who assisted in the safe relocation of NATO personnel from Iraq," General Alexus Grynkewich, NATO supreme allied commander Europe, said on March 20.
The statement did not specify how many people would be transferred to the NATO operational headquarters in Naples, Italy. However, Reuters quoted sources as saying several hundred personnel were affected.
Following the launching of the US-Israeli air campaign against Iran, violence has spilled over to other countries in the region. Both pro-Iran and anti-Iran groups based in Iraq have suffered attacks, although the origin of most strikes are not yet known.
NATO's primary mission in Iraq, which began in 2018, is to prevent a resurgence of the Islamic State (IS) extremist group in the country. NATO forces have helped train Iraqi military personnel in the fight against terrorism.
With reporting by Reuters and dpa
Britain Lets US Use Its Bases In Bid To Open Strait Of Hormuz, Romania Signs On
Britain has given the US the green light to use its bases to strike Iranian missile sites that are launching attacks on ships in the Strait of Hormuz, a crucial corridor for oil shipments from the Persian Gulf to global markets that Iran has essentially blocked amid the US-Israeli strikes, causing prices to rise.
Ministers meeting on March 20 "confirmed that the agreement for the US to use UK bases in the collective self-defense of the region includes US defensive operations to degrade the missile sites and capabilities being used to attack ships in the Strait of Hormuz," the British government said in a statement.
Britain and other Western nations have voiced concern about being drawn into the war, and the reluctance of many to get involved in operations to free up the strait has drawn sharp criticism from US President Donald Trump. In a social media post on March 20, he suggested NATO nations refusing to join the efforts were “cowards.” Reuters reported the same day that Trump said the UK should have acted faster in offering help to the US.
Despite their concerns, on March 19, the UK, France, Germany, Italy, the Netherlands, and Japan voiced readiness “to contribute to appropriate efforts to ensure safe passage through the strait." Romanian President Nicusor Dan announced on March 20 that his country would join that group, saying it is “ready to participate in the efforts of the international community that will lead to maintaining prices at a bearable level for the population."
British Prime Minister Keir Starmer initially rejected a US request to use UK bases for strikes on Iran, saying he needed to be sure that any military action was legal. After Iran targeted British allies across the Middle East, Starmer said the US could use an air force base in England and Diego Garcia, a joint US-UK base in the Indian Ocean.
Fears Spread Of More Executions After Iran Hangs 3 Over Protests
Human rights groups have condemned Iran's hanging of three men in the first executions over January protests and warned they fear more executions to come.
Authorities in Iran are trying "to frighten the public" and keep them in line in order to remain in power, says Mahmoud Amiry-Moghaddam of the Oslo-based Iran Human Rights organization.
Trump Says ‘There’s Nobody To Talk To’ In Iran
President Donald Trump said the United States has “nobody to talk to” in Iran after three weeks of US-Israeli strikes killed the country’s longtime supreme leader and several other top figures in the government and security apparatus.
“Their leaders are all gone. The next set of leaders are all gone, and the next set of leaders are mostly gone. And now, nobody wants to be a leader over there anymore,” Trump said at a White House event attended by senior military officers and others on March 20.
“We’re having a hard time: We want to talk to them and there’s nobody to talk to,” he said. “We have nobody to talk to -- and, you know what, we like it that way.”
Ayatollah Ali Khamenei was killed on the first days of the strikes, February 28, and senior figures including Ali Larijani, secretary of Iran's Supreme National Security Council, have subsequently been killed.
Ayatollah Mojtaba Khamenei, chosen to replace his father as supreme leader, has not appeared in public since his appointment. Trump said on March 16 that the US did not know whether he was still alive.
Trump also told his White House audience that Iran’s “navy’s gone, their air force is gone, their anti-aircraft is all gone…their radars are all gone.”
Supreme Leader Delivers Norouz Message, Says Iran's Enemies Have Been Defeated
Iran's Supreme Leader Ayatollah Mojtaba Khamenei said Tehran has dealt a "dizzying blow" to the country's enemies in a written address to the nation for the Persian New Year, Norouz, as Iran's military continued to launch attacks across the Middle East.
"At the moment, due to the particular unity that has been created between you our compatriots -- despite all the differences in religious, intellectual, cultural and political origins -- the enemy has been defeated," his message said on March 20.
Newly appointed as supreme leader, Mojtaba Khamenei has not appeared in public after his father Ali Khamenei was killed in a wave of US-Israeli air strikes at the start of the war on February 28.
His written message for Norouz marks the second time he has communicated with the public in his new position.
Khamenei also denied that Iranian forces were behind recent attacks on Oman and Turkey, instead blaming Israel, though he provided no evidence. He further claimed that Tehran seeks to strengthen relations with its Middle Eastern neighbors.
Czechs Investigate Fire At Arms Producer They Say Is 'Likely' Terror Attack
Czech authorities have launched a probe into a fire that broke out at an arms producer's warehouse they say may be part of a terror attack over links the firm has to Israel.
The March 20 blaze broke out at a facility owned by arms producer LPP Holding in the city of Pardubice some 100 kilometers east of Prague. The company develops and produces drones and other military equipment.
No one was injured in the fire.
"We are dealing with all available information. There is a probable connection with a terrorist attack," Interior Minister Lubomir Metnar said in a post on X.
LPP said in 2023 that it would be cooperating with the Israeli firm Elbit Systems.
A group called Earthquake Faction said on Telegram that it was responsible for the fire, which it called a "key production center for Israeli weapons."
The claim could not be immediately verified.
Read more here.
Ground Operation In Iran Currently ‘Not Worth Pursuing,’ Says Analyst
- By Current Time
Nikita Smagin, an expert on Iranian foreign and domestic policies, has told Current Time that a ground operation in the Iran conflict seems unlikely for now, despite speculation driven by reports of troop movements.
“Of course, a ground operation seems like a natural next step to many in the current situation if you truly want to bring about a change in power,” he said on March 20. “However, it’s clear that this is a very complex scenario, and for now, it’s probably not worth pursuing.”
“It seems to me that the idea of a ground operation is not currently on the agenda,” Smagin added. “However, that does not mean it won't appear on the agenda at some point in the future. In theory, it is still possible."
Smagin also said Iran’s strikes in the region have decreased but remain “quite painful,” with a shift toward softer targets such as oil facilities.
“Even with limited capabilities, Iran is still capable of causing serious destruction and can quite effectively block the Strait of Hormuz,” he said.