U.S. Treasury Ends Sanctions Waiver on Iranian Oil, Intensifies Economic Pressure
The U.S. Treasury Department has announced the termination of a temporary waiver that allowed the sale of Iranian oil stranded at sea, as part of its strategy to exert 'Economic Fury' on Iran. This decision is aligned with the broader U.S. military campaign, Operation Epic Fury, in the Middle East. The waiver, which permitted the shipment of approximately 140 million barrels of Iranian oil since March 20, was initially intended to mitigate rising fuel prices due to ongoing conflicts. However, the waiver is set to expire on April 19 and will not be renewed. Additionally, the U.S. has ended a similar waiver for Russian oil. The Treasury Department is also targeting foreign banks that allegedly support Iran's activities, warning them of potential secondary sanctions. Letters have been sent to financial institutions in China, Hong Kong, the United Arab Emirates, and Oman, urging them to cease any illicit activities linked to Iran. 
