The Trump administration has taken the unusual step of briefly relaxing sanctions on Iranian oil that is already en route on tankers, marking the first time such restrictions have been loosened since they were imposed after the 1979 Islamic Revolution.

Treasury Secretary Scott Bessent explained that the measure is limited strictly to shipments that have already been loaded and are currently at sea, and does not apply to any new oil production. The move is intended to help bring down surging energy prices linked to the ongoing conflict involving Iran.

Officials estimate that the decision could allow approximately 140 million barrels of oil to enter global markets, at a time when disruptions in the Strait of Hormuz and continued fighting in the region have driven prices sharply upward.

“This is a narrowly tailored, temporary step,” Bessent said, emphasizing that the broader sanctions framework remains fully intact as part of the administration’s maximum pressure strategy.

Sanctions targeting Iran’s oil industry have long been a central pillar of U.S. policy, designed to restrict revenue flowing to the regime following the 1979 revolution and the hostage crisis that followed. In recent years, those restrictions have been tightened further in an effort to push Iranian exports down to near zero.

According to administration officials, the current move is meant to calm volatile global markets without offering Iran any sustained economic benefit.

Critics, however, contend that even a limited waiver could still provide Tehran with additional funds during a time of heightened tensions, despite assurances from officials that the effect will be minimal since the oil was already in transit.