US Treasury confirms Iranian oil sanctions waiver will expire, not be renewed

The US Treasury confirmed a Reuters report that a short-term authorization permitting the sale of Iranian oil stranded at sea will expire on April 19 and will not be renewed.

“Treasury is moving aggressively with Economic Fury, maintaining maximum pressure on Iran,” the department said in a post on X.

“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,” it added.

“The short-term authorization permitting the sale of Iranian oil already stranded at sea is set to expire in a few days and will not be renewed,” the Treasury said.