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Geopolitics

What are the possible benefits and risks of lifting oil sanctions on Iran for the U.S. and the world?

The White House is considering lifting sanctions on Iranian oil that's at sea to keep oil prices down, Treasury Secretary Scott Bessent said Thursday. Why it matters: The administration is pulling out all the stops — even easing up an economic threat to its enemy in war — to keep down oil prices. The latest: The price of Brent crude, the global benchmark, spiked 10% in just the past 24 hours, driving increasing worries among investors. Brent is now around $111 per barrel — nearly 60% higher than pre-war levels. Zoom in: "In the coming days, we may unsanction the Iranian oil that's on the water," Bessent told Fox Business Thursday morning. He said that would make up about 140 million barrels — about 10 days to two weeks of supply."In essence, we'd be using the Iranian barrels against the Iranians to keep the price down for the next 10 or 14 days, as we continue this campaign. So, we have lots of levers." The big picture: The White House has been able for the past few weeks to contain prices with various assurances and policies — promising tanker escorts through the critical Strait of Hormuz, waiving the Jones Act, and temporarily lifting sanctions on Russian oil. Zoom out Lifting sanctions on Iranian oil would be a remarkable next step — as it was something Iranians were asking for in negotiations last year. The White House referred Axios' questions about Iranian sanctions to the Treasury Department, which didn't immediately respond to a request for comment or more details. The bottom line: The administration appears to be conceding something in war that it was unwilling to give in peace, says Nicholas Mulder, a sanctions expert and professor at Cornell University. "The U.S. has to dial back sanctions to offset the second order effect of war," he says. "It speaks to the instability of the situation."

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Politics

What could the recent election results in Florida mean for future political changes in the area?

Democrats on Tuesday flipped a Republican-leaning Florida state House seat that encompasses President Trump's Mar-a-Lago estate, per AP. The big picture: Democrat Emily Gregory beat the Trump-endorsed Republican Jon Maples in a special election in the Palm Beach County-based district that the president won by 11 points. Trump voted for Maples by mail, despite repeatedly railing against mail-in voting. Zoom out: Republicans have been getting creamed in dozens of state legislative elections since Trump took office last year. Democratic candidates running for state legislative seats this year have outperformed 2024 presidential candidate Kamala Harris' vote totals by nearly 11 points, according to The Downballot, a site that tracks congressional and state-level elections.The sluggish GOP voter turnout is deeply concerning Republican strategists ahead of the midterm elections. Reality check: Though Florida Republicans are disappointed by the outcome, they're still expressing confidence they'll keep the governorship and a U.S. Senate this in the fall midterms. Republicans have not lost a statewide race in Florida since 2018, and the party maintains control of the state legislature. What they're saying: "A slow-turnout state House special election is a snapshot of local quirks, candidate dynamics, and turnout math — not some grand verdict," said Republican National Committee Senior Adviser Danielle Alvarez Tuesday night. The other side: "Donald Trump's own neighbors just sent a crystal clear message: They are furious and ready for change," Democratic National Committee Chairman Ken Martin said in a Tuesday night statement. Marc Caputo contributed reporting

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Politics

What do you think are the important issues for voters as they decide on a new term for the Danish Prime Minister?

Danish PM Mette Frederiksen is seeking a third term as elections take place on March 24. She called the election in February - several months before she had to in apparent hopes that her resolute image in the crisis over Greenland would help her with voters. But the campaign was more aobut domestic issues than Denmark's relationship with Trump. FRANCE 24's Angela Diffley tells us more

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