The U.S. has reportedly chosen not to renew waivers on sanctions for Iranian and Russian oil amid a more stringent approach towards these countries.
The 30-day waiver on sanctions for Iranian oil currently at sea, set to lapse this week, will not be prolonged, Reuters reported on Tuesday. In addition, a similar waiver on Russian oil sanctions was discreetly allowed to expire over the weekend.
The Trump administration has been exerting “maximum pressure” on Iran due to its nuclear program and support for militants in the Middle East.
The Treasury’s March 20 waiver allowed roughly 140 million barrels of oil to reach global markets, helping ease energy supply pressures during the Iran conflict, according to Treasury Secretary Scott Bessent.
US Flags Banks Aiding Iran Flows
Separately, the U.S. Treasury, on Tuesday, reportedly stepped up pressure on governments hosting banks accused of channeling funds to Iran, sending letters to authorities in China, Hong Kong, the UAE, and Oman identifying institutions linked to illicit Iranian financial activity.
The letters followed Treasury findings that Iran moved at …
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