US Will Not Renew Iran Oil Sanctions Waiver
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Washington — The US Treasury Department announced Tuesday it will not renew a temporary authorization that allowed the sale and delivery of Iranian crude and other petroleum products already loaded onto ships before March 20, saying the short-term authorization, set to expire in a few days, will not be extended and that Washington is maintaining maximum pressure on Tehran.
The authorization had been issued to relieve war-related supply shocks after the conflict that began February 28 and was due to last through April 19; buyers including India used similar waivers, and Treasury officials warned of possible secondary sanctions on banks holding Iranian funds, while regional tensions and shipping disruptions around the Strait of Hormuz remain unresolved this week.
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