The US Treasury says it will temporarily ease sanctions on Iranian oil already loaded on tankers and at sea.
Treasury Secretary Scott Bessent said the short-term authorization could allow around 140 million barrels of oil to enter global markets.
He said the move is aimed at helping reduce global oil prices.
Bessent added that Iran will still face restrictions on accessing financial proceeds from the sales.
The authorization applies only to cargoes already in transit and does not include new production or purchases.
The decision comes as oil prices have surged amid rising tensions in the Middle East, with Brent crude reaching about $112 per barrel.
