You can't make this up.
US temporarily lifts sanctions on Iranian oil stuck at sea
The US Treasury is temporarily lifting sanctions on Iranian oil currently at sea, allowing it to be sold to most countries in order to keep oil prices down.
The "short-term authorization" will allow approximately 140 million barrels of oil to enter global markets, Treasury Secretary Scott Bessent said in a statement posted to X on Friday.
Bessent said Iran will have "difficulty accessing" any financial profit generated from the sale.
The authorisation is "strictly limited to oil that is already in transit and does not allow new purchases or production", Bessent said.
"In essence, we will be using the Iranian barrels against Tehran to keep the price down," he added.
Oil and gas prices have risen sharply since the war began, and after Iranian strikes hit energy infrastructure in the Middle East.
The price of Brent crude oil is holding around $112 a barrel, up 3% Friday and 53% for the past year.