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4:32Now PlayingAmid Iran war, why did US extend sanctions relief on Iranian and Russian oil? Treasury Sec. answers
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April 22, 2026
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4:32Now PlayingSecretary of the Treasury Scott Bessent faced questions about the extension of relief on sanctions to Iranian and Russian oil from US Senator Chris Coons during a budget hearing on April 22.
The move is short-term, only for 30 days, with Bessent citing requests from countries that are the most vulnerable to oil shortages due to the Strait of Hormuz being closed. Bessent also noted that estimates of $14 billion being gained by Iran from the relief are “a myth,” but he did not provide an alternate figure.
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