The US is weighing lifting sanctions on some Iranian oil, as it scrambles to contain the impact of its war in Iran on energy markets.
Treasury Secretary Scott Bessent put forward the idea in an interview on the Fox Business programme Mornings with Maria on Thursday, saying it could make more oil available to global buyers. Around the world, energy prices are shooting up as the war takes a toll on shipping and production.
If put into action, the move would mark a stunning reversal of longstanding American policy - and one with highly uncertain pay-off.
Experts said it was likely to have a limited effect on prices, and could boost funds gong to the Iranian regime that the US is attacking.
"To put it mildly, this is bananas," said David Tannenbaum, director of Blackstone Compliance Services, a consultancy specialising in maritime sanctions. "Essentially we're allowing Iran to sell oil, which could then be used to fund the war effort."
