Trump said the US would attack Iran's power plants if it didn't reopen the Strait of Hormuz in 48 hours. Iran responded on Sunday with is own threats.

Scott Bessent accused NBC's Kristen Welker of "terrible framing" during an exchange about Iranian oil on Sunday, as the host pressed the treasury secretary on why the U.S. lifted sanctions.

The Treasury Department’s authorization of the sale of Iranian crude already at sea is likely to provide revenue for Iran’s war effort against the U.S.

The plan to remove sanctions on Iran comes a week after the Trump administration temporarily eased sanctions on Russian oil. The United States is also working to ramp up the flow of oil being exported by Venezuela, which it now considers an ally since it arrested President Nicolás Maduro in January and removed him from office.

Since the United States and Israel attacked Iran three weeks ago, at least 23 oil and natural gas facilities across nine countries in the Middle East have been hit by military strikes from Iranian, Israeli,

Strait of Hormuz traffic is near collapse as Iran reportedly charges tankers $2 million in transit fees, prompting President Trump to threaten strikes on Iranian power infrastructure.

Treasury Secretary Scott Bessent defended strikes on Iran's infrastructure since the U.S and Israel's joint operation began, saying "sometimes you have to escalate to de-escalate."

JERUSALEM, March 19 (Reuters) - An Iranian missile attack hit Israel's Oil Refineries in the northern port city of Haifa but did not cause "significant damage", Israel's Energy Ministry said on Thursday.