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Against the backdrop of escalating geopolitical tensions, the US Treasury Department on Wednesday said it does not intend to extend a temporary relaxation of sanctions on Iranian oil that was introduced to cushion war-driven supply disruptions.
The move comes as part of Washington's broader strategy to intensify pressure on Tehran, with the Treasury asserting that it is advancing what it described as an "Economic Fury" approach aimed at curbing Iran's financial and energy activities. https://x.com/ustreasury/status/2044122873036673130?s=46 "Treasury is moving aggressively with Economic Fury, maintaining maximum pressure on Iran. Financial institutions should be on notice that the department is leveraging the full range of available tools and authorities and is prepared to deploy secondary sanctions against foreign financial institutions that continue to support Iran's activities. The short-term authorisation permitting the sale of Iranian oil already stranded at sea is set to expire in a few days and will not be renewed," the US Treasury Department said. Earlier on March 21, the United States on Friday (local time) announced temporarily easing of sanctions on Iranian-origin crude oil and petroleum products up until April 19 this year, including permitting the sale of Iranian crude and refined products into the United States. The details of the decision were provided by a statement from the US Department of the Treasury's Office of Foreign Assets Control, which authorised the delivery and sale of crude oil and petroleum products of Iranian origin, which are loaded on vessels as of March 20. The statement noted 19 April, 2026 as the date till which the exceptions would exist on Iranian-origin crude oil and petroleum products. It said that with certain exceptions, "All transactions prohibited by the above-listed authorities that are ordinarily incident and necessary to the sale, delivery, or offloading of crude oil or petroleum products of Iranian origin loaded on any vessel, including vessels blocked under the above-listed authorities, on or before 12:01 am eastern daylight time, March 20, 2026 are authorized through 12:01 am eastern daylight time, April 19, 2026." The statement noted that the transactions authorised by the license also include the import of Iranian-origin crude oil and petroleum products into the United States. As the conflict with Iran is still ongoing, the strategic waterway remains effectively closed to most maritime traffic, continuing to pressure global energy supplies and diplomatic relations. (ANI)
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