The Trump administration will allow a 30-day waiver of sanctions on Iranian oil at sea to expire later this week, two administration officials tell Reuters, as the US imposes a blockade on shipments from Iranian ports.
The move signals that “Treasury is going full force on Economic Fury,” on Iran, an apparent reference to Operation Epic Fury, the US-led military campaign against the country, one of the officials says.
The waiver, which the Treasury Department issued on March 20, allowed some 140 million barrels of oil to reach global markets and helped relieve pressure on energy supply during the war against Iran, Treasury Secretary Scott Bessent said last month.
The waiver is set to expire on April 19.
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