Kylie Cooper / REUTERS President Donald Trump is scrambling to contain the economic consequences from his war with Iran—consequences he was repeatedly warned about before launching the campaign. The Treasury Department announced on Friday that decades-old sanctions on Iranian oil have been lifted on 140 million barrels that have already been shipped out of the Strait of Hormuz, a move that will likely help Iran finance its war effort against the U.S. Iran’s closing of the Strait has been one of the worst crises for the White House since the war began on Feb. 28. The Trump White House has tried and failed to build a coalition of allies to reopen the Strait of Hormuz. Before Trump launched his deadly war three weeks ago, around 20 percent of the world’s shipments passed through the Strait. Read more at The Daily Beast.