WireMarch 23, 2026 at 1:30 AM
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The Trump administration is employing a strategic maneuver to counteract Iran’s influence on global oil markets while stabilizing prices, according to U.S. Ambassador to the United Nations Mike Waltz. The plan involves temporarily lifting sanctions on roughly 140 million barrels of Iranian oil already loaded onto tankers, redirecting these shipments away from China and toward other nations such as India and Bangladesh.
Treasury Secretary Scott Bessent initially outlined the policy, emphasizing that the move adds supply to global markets without direct intervention in oil futures. Waltz noted that financial sanctions on Iran remain intact, ensuring Tehran does not profit from the redirected shipments. "We do not anticipate Iran sees any of that money," Waltz stated during an appearance on 'Sunday Morning Futures.'
Iran’s regime has sought to "sow chaos" by attacking neighboring countries and attempting to "hold the world’s energy supplies hostage," Waltz explained. However, recent military setbacks and U.S. policies—including domestic energy production expansion and a waiver to the Jones Act—have undermined Tehran’s efforts. "This is one more step to defeat that strategy," Waltz added, stressing that Iran’s influence will be temporary.
"We are going to defeat this strategy. It will be temporary on the part of Iran, and, at the end of the day, the United States and our global coalition will prevail," Waltz said.
The move aligns with the administration’s broader goal of U.S. energy dominance, leveraging American resources and strategic policies to mitigate foreign provocations and stabilize global markets.