If the unstated intention of the Iran war was to give far more leverage to Russia, and – paradoxically – to Iran, by legitimizing their sanctioned oil exports in a world suddenly starved of energy, then mission accomplished. Just days after the US “temporarily” lifted sanctions on Russian oil stored on sanctioned tankers, Secretary Scott Bessent said Thursday that the Trump administration may suspend sanctions on Iranian oil already at sea in a bid to clamp down on energy prices. “In the coming days we may unsanction Iranian oil that’s on the water, about 140 million barrels,” he said on Fox Business, adding that “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.” U.S. Treasury Secretary Scott Bessent: In the coming days, we may unsanction the Iranian oil that’s on the water. pic.twitter.com/7OJN7t1ZtT — Clash Report (@clashreport) March 19, 2026 It’s the latest play weighed by the administration to stabilize the oil market against price shocks since the U.S. and Israel launched their joint operation in February. The maneuver could free up 140 million barrels of Iranian oil for global use, Bessent said. […]