According to reports from HashiChain News on March 21, citing CCTV News, the United States approved a 30-day authorization on March 20 local time to conditionally ease sanctions on Iranian oil products, allowing the delivery and sale of Iranian crude oil and petroleum products that had been loaded onto ships by March 20. U.S. Treasury Secretary Basent stated that the Treasury is issuing a "narrowly defined, short-term authorization" that only permits the sale of Iranian oil currently stranded at sea. By temporarily releasing existing oil supplies, the U.S. will swiftly provide approximately 140 million barrels of oil to the global market; this temporary authorization is strictly limited to oil that is already in transit.