The United States Department of the Treasury has announced that it will not renew a waiver allowing certain Iranian oil transactions, effectively reinstating sanctions as part of Washington’s “maximum pressure” strategy against Iran.
In a statement shared on social media, the department said the decision aims to sustain economic pressure on Tehran and limit its oil revenues. It also warned that the U.S. is prepared to impose secondary sanctions on foreign financial institutions that continue to support Iranian-related activities.
U.S. Treasury Secretary Scott Bessent had previously indicated that the waiver applied to Iranian crude oil and petroleum products already loaded onto vessels, with authorization set to expire on April 19.
According to earlier estimates, the waiver could have allowed approximately 140 million barrels of oil to enter global markets. Its expiration is expected to tighten supply conditions and reinforce pressure on Iran’s energy exports.
The move comes amid heightened geopolitical tensions and ongoing efforts by the United States to curb Iran’s economic and regional influence.
The strategic importance of the Strait of Hormuz remains central to global energy markets, as roughly one-fifth of the world’s daily oil consumption passes through the narrow maritime corridor.
The decision underscores Washington’s continued reliance on economic tools to influence Iran’s policies, while raising concerns about potential impacts on global oil flows and market stability.
