ERBIL, Kurdistan Region of Iraq – The United States on Friday temporarily authorized certain transactions involving Iranian oil already loaded on vessels, allowing activities “ordinarily incident and necessary” to its sale, delivery, or offloading under a Treasury license valid through April 19, as Washington moves to ease restrictions on shipments stranded at sea.

"All transactions prohibited by the above-listed authorities that are ordinarily incident and necessary to the sale, delivery, or offloading of crude oil or petroleum products of Iranian origin loaded on any vessel," read a US Treasury Department statement.

The general license applies to shipments loaded on or before March 20 and remains in effect through April 19.

The developments come after Washington announced plans to temporarily lift sanctions on Iranian oil in a bid to alleviate a rampant increase in energy prices following the launch of a US-Israeli military offensive against Iran in late February.

US Energy Secretary Chris Wright said Friday that the Iranian oil on the water could be unsanctioned “within three or four days.” Treasury Secretary Scott Bessent said the daye after that Washington may soon lift sanctions on the shipments, following the closure of the Strait of Hormuz and the ensuing rise in oil prices.

Since the start of the war, Iran has largely suspended shipping through the Strait of Hormuz, one of the world’s most important shipping routes and its most vital oil transit chokepoint, with Iranian forces attacking several vessels attempting to cross it.

The development has led to a sudden rise in oil and diesel prices, with almost 20 million barrels of oil per day unable to make it safely past the waterway.

US President Donald Trump has strongly warned that he will target oil facilities if Tehran disrupts shipping through the Strait of Hormuz.

Iran’s new Supreme Leader, Mojtaba Khamenei, in his first public message, vowed that Tehran will continue attacking US military bases in the region if they are used to launch attacks against Iran, as well as doubling down on a commitment to blockade the strait to pressure Iranian foes.