The United States has removed sanctions from three entities allegedly linked to Iran's Islamic Revolutionary Guard Corps (IRGC), the US Department of the Treasury has confirmed.
The US Treasury said that the terrorism-related sanctions imposed on several Iran-linked aviation entities had been lifted. The sanctions had originally been imposed over their alleged links to the IRGC.
Following the announcement, global crude oil prices fell. US West Texas Intermediate (WTI) crude traded at $75.06 a barrel, while Brent crude fell to $78.83 a barrel.
Experts said news of the easing of sanctions strengthened expectations of higher global energy supplies, placing further downward pressure on crude oil prices.
