The United States has eased sanctions on Iranian oil, allowing the release of up to 140 million barrels of crude into the global market in a move aimed at reducing rising fuel prices.
The decision permits oil already loaded onto tankers to be delivered and sold, as part of efforts to increase global supply and stabilise energy markets amid ongoing geopolitical tensions.
US officials said the measure was designed to provide immediate relief to consumers and ease pressure on economies affected by high energy costs.
However, the waiver is limited in scope and does not allow for new production or fresh exports from Iran.
Energy analysts say the additional supply could help moderate global oil prices in the short term, although uncertainties remain about the long-term impact of the policy.
The move forms part of broader efforts by the US government to manage inflationary pressures linked to rising energy costs.