Trump Plots Humiliating U-Turn as Oil Prices Spiral

President Donald Trump has U-turned on his Iran oil sanctions, potentially handing Tehran a huge financial windfall from the very war Washington started. Treasury Secretary Scott Bessent revealed Thursday that the administration is preparing to lift sanctions on approximately 140 million barrels of Iranian crude currently stranded on tankers. “In the coming days, we may unsanction the Iranian oil that’s on the water,” he told Fox Business Network. “So, depending on how you count it, that’s 10 days to two weeks of supply.”