Washington will not be renewing waivers for Iranian and Russian oil: US Treasury Secretary Scott Bessent
Indian Express·2h ago·Neutral
What Happened
US Treasury Secretary Scott Bessent announced the United States will not renew waivers allowing purchases of Iranian and Russian oil without sanctions. The 30-day Iranian waiver expires this week, while the Russian waiver expires over the weekend. Bessent warned of secondary sanctions on financial institutions conducting business with Iran. The conflict has disrupted 20% of global oil shipments through the Strait of Hormuz. Oil prices fell Thursday as markets anticipated de-escalation.
Key Entities
Scott BessentUS TreasuryIranRussiaStrait of HormuzBrent crudeUS sanctions