WASHINGTON – The United States has lifted sanctions on three entities allegedly linked to Iran’s Islamic Revolutionary Guard Corps (IRGC), the US Treasury Department has confirmed.
According to the Treasury Department, terrorism-related sanctions imposed on several Iran-affiliated aviation entities have been removed. The sanctions had been imposed over their alleged ties to the IRGC.
Following the announcement, global crude oil prices extended their decline. US West Texas Intermediate (WTI) crude fell to $75.06 per barrel, while Brent crude dropped to $78.83 per barrel.
Analysts said the easing of sanctions has raised expectations of increased global oil supplies, putting further downward pressure on crude prices.
