Particle.news
Download on the App Store
9 ARTICLES
·
last wk.

U.S. Will Not Renew Waivers for Russian and Iranian Oil at Sea

The decision signals a shift toward stricter pressure on both countries.

Treasury Secretary Scott Bessent testifies on his agency's proposed budget estimates for fiscal year 2027 at a Senate Appropriation subcommittee, at the Capitol in Washington, Wednesday, April 22, 2026. (AP Photo/J. Scott Applewhite)
Image
Image
Image

Overview

  • U.S. Treasury Secretary Scott Bessent, in an AP interview Friday, said the government will end waivers that let buyers receive Russian or Iranian oil already on tankers.
  • He said Iranian exports face a U.S. blockade with no oil leaving, and warned Iran may start shutting wells within two to three days.
  • A narrow Russian waiver was extended on April 17 after appeals from more than 10 poor, vulnerable countries, and that license now runs to May 16.
  • The waivers only applied to cargoes loaded before set cutoffs, a limited tool meant to calm prices after crude rose above $100 a barrel in March.
  • Treasury also sanctioned entities in an Iranian shipping network tied to Mohammad Hossein Shamkhani, signaling tighter control on oil flows during ongoing Strait of Hormuz disruptions.