Waltz says Trump is using Iran's own oil strategy against itself to drive down global prices

U.S. Ambassador to the United Nations Mike Waltz said the Trump administration is working to blunt rising oil prices by allowing Iranian crude already at sea to be sold, a move he described as turning Tehran’s own strategy against it.

Treasury Secretary Scott Bessent first outlined the approach, saying the administration could temporarily lift sanctions on roughly 140 million barrels of Iranian oil loaded on tankers, adding supply to global markets rather than intervening directly in oil futures.