Donald Trump is trying to make it easier for foreign tankers to move around the US, temporarily allowing foreign-flagged ships carrying oil and gas to travel between US ports, the White House announced Wednesday. The move comes as the president tries to manage a delicate balancing act, attempting to mitigate the increasing price of oil while also carrying out the US-Israel war on Iran.
A Treasury Department general license will allow the sale of about 128 million barrels of Russian oil already loaded onto tankers previously sanctioned by Washington. The authorization lasts 30 days. Treasury Secretary Scott Bessent said the move would let countries buy Russian oil "currently stranded at sea" to expand global supply.
I've been absolutely flabbergasted that the US has not been a little bit more planned as to how they would deal with this very, very predictable situation. Starting a war in the Persian Gulf, a region that produces roughly a third of the world's oil, was bound to send shock waves through global markets.
