The administration of Donald Trump has temporarily eased sanctions on the purchase of Iranian oil at sea for 30 days, to stabilise rising global oil prices.
According to U.S. Department of the Treasury Secretary Scott Bessent, the waiver is expected to bring around 140 million barrels of oil into global markets, helping to ease pressure on energy supplies.
The decision comes amid concerns in Washington that soaring oil prices driven by ongoing tensions and conflict involving Iran could negatively impact US businesses and consumers, particularly ahead of the upcoming midterm elections.
This marks the third sanctions waiver issued during the ongoing crisis. The temporary license allows Iranian oil to be imported when necessary to complete existing sales or deliveries.
However, the US has largely avoided importing Iranian oil since sanctions were imposed following the 1979 revolution, and it remains uncertain whether any shipments will actually reach the country under the current waiver.
Last night, Iran launched a massive cluster missile attack on the capital of Israel.
Iran carried out cluster missile and drone attacks on Israel, including strikes near Tel Aviv, as part of an ongoing escalation between the two countries.
Other attacks in central Israel, including areas around Tel Aviv, have also led to casualties, with some incidents involving cluster-style munitions.
Iran’s latest attack
Iran has launched a large-scale attack on the Israeli city of Tel Aviv using cluster missiles.
According to media reports, these advanced missiles penetrated Tel Aviv’s air defence system and struck multiple targets, with loud explosions heard across several areas of the city.
Sources from Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed that this was the first use of cluster warheads, which break into multiple smaller munitions mid-air, making it difficult for defence systems such as the Iron Dome to intercept all targets.
The attack reportedly caused damage to sensitive locations and military installations in Tel Aviv.
