US to allow Iranian oil sanctions waiver to expire
The Trump administration will allow a 30-day waiver on Iranian oil shipments to expire this Sunday. This follows criticism over relaxed sanctions on Tehran.
The United States administration is set to allow a 30-day waiver on sanctions for Iran oil currently at sea to expire on April 19. This decision signals a tightening blockade on shipments from Iranian ports as Washington intensifies economic pressure on Tehran. The waiver, which was issued by the Treasury Department on March 20, permitted approximately 140 million barrels of oil to reach global markets, providing a buffer for energy supplies during the ongoing conflict. This volume of crude is a significant factor for global energy benchmarks, including Brent Crude Oil and West Texas Oil.
