Trump eases oil sanctions on Iran, says Hormuz should be guarded by other nations

United States President Donald Trump said on Saturday (March 21, 2026) that he is considering “winding down” the war on Iran, adding that securing the Strait of Hormuz — now under Iran’s control — is the responsibility of other nations, even as Washington temporarily eased sanctions on Iranian oil shipments in a bid to ease the global supply crisis.

“We are getting very close to meeting our objectives,” Mr. Trump wrote in a social media post, adding that the U.S. has “degraded” Iran’s missile capability, “destroyed” its defence industrial base, and “eliminated” its Navy and Air Force, including anti-aircraft weaponry. Adding that the U.S. had taken out Iran’s nuclear capability, and would never allow Tehran to rebuild it, he vowed to protect America’s allies in the region, “including Israel, Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and others.”

Iran-Israel war updates on March 20, 2026

‘Unlocking oil supply’

While Mr. Trump declared victory over Iran, the U.S. Treasury Department on Friday (March 20) said it was temporarily lifting sanctions on Iranian oil already loaded onto vessels, to tackle supply disruptions and rising prices.

“By temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran,” Treasury Secretary Scott Bessent said in a statement. “This temporary, short-term authorization is strictly limited to oil that is already in transit and does not allow new purchases or production.”

The U.S. and Israel have carried out thousands of air strikes in Iran since they started the war on February 28. At least 1,400 people have been killed, including Iran’s Supreme Leader Ayatollah Ali Khamenei and its Security Council Secretary Ali Larijani. Mr. Trump has repeatedly claimed that the U.S.-Israeli strikes have destroyed Iran’s military capabilities.

Iran’s continuing attacks

Despite such claims, Iran has consistently carried out missile and drone attacks against Israel and America’s Persian Gulf Arab allies, besides taking control of the Strait of Hormuz through which one-fifth of the world’s traded oil passed before the war.

On Saturday evening (March 21, 2026), Alireza Tangsiri, commander of the Islamic Revolutionary Guards Corps (IRGC) Navy, said the Guards had attacked two American bases in the Persian Gulf. “IRGC pounded the facilities of the two Al-Minhad [UAE] and Ali Al-Salem [Kuwait] air bases, the hangars, and the fuel depots of American-Zionist aircraft with a massive volume of ballistic missiles and suicide drones. These bases were the origin of the aggression against #IranianIslands,” Mr. Tangsiri said in a post.

The attacks on oil facilities in the Gulf and the closure of the Strait have driven up oil, gas, and fertilizer prices. Brent crude closed at $106 a barrel on Friday (March 20), up from $72 on February 28, the first day of the war.

Changing stance on Hormuz

“The Hormuz Strait will have to be guarded and policed, as necessary, by other Nations who use it — The United States does not! If asked, we will help these Countries in their Hormuz efforts, but it shouldn’t be necessary once Iran’s threat is eradicated. Importantly, it will be an easy Military Operation for them,” Mr. Trump said, signalling that regional countries should lead any military operation to open the Strait.

Mr. Trump had earlier sought help from America’s NATO allies as well as China to open the Hormuz Strait. As most countries rejected his call, he said the U.S. did not want anybody’s help. But again, on March 20, he called NATO partners “cowards” because they did not send any assistance.

At the White House, Mr. Trump told reporters on Saturday (March 21) he was not looking for a ceasefire with Tehran. “I think we have won. I don’t want to do a ceasefire. You know you don’t do a ceasefire when you’re literally obliterating the other side,” he said.