U.S. won't renew Iranian, Russian oil waivers: Bessent
The Hindu·2h ago·Neutral
What Happened
U.S. Treasury Secretary Scott Bessent announced Friday that America will not renew waivers for purchasing Russian and Iranian oil currently at sea. Bessent stated Iran's oil production will face shutdown within days due to the U.S. blockade. The decision impacts global energy markets amid U.S.-Israeli tensions with Iran and Strait of Hormuz closure.
Key Entities
Scott BessentU.S. Treasury SecretaryIranRussiaStrait of HormuzApril 2026