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Bessent urges more disruption to Iran's financing, will review US sanctions list

Bessent urges more disruption to Iran's financing, will review US sanctions list

By David Lawder PARIS, May 19 (Reuters) - U.S.
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U.S. Expands Sanctions on Iran with 19 Vessels Targeted in Oil Export Crackdown

U.S. Expands Sanctions on Iran with 19 Vessels Targeted in Oil Export Crackdown

The U.S. Treasury Department has imposed sanctions on 19 vessels and a network of entities involved in Iranian oil, LPG, and petrochemical exports. This move is part of a broader effort to restrict Iran's energy revenues amid ongoing Middle East conflicts. The sanctions target Iran's 'shadow banking system' and 'shadow fleet,' which facilitate the movement of billions of dollars in oil and petrochemical sales outside traditional financial channels. The action is part of the 'Economic Fury' campaign aimed at disrupting Iran's revenue generation through global energy markets. The targeted vessels, operating under various international flags, have been transporting Iranian-origin cargoes, generating significant revenue for Tehran.
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U.S. Treasury Extends Waiver for Russian Oil Transactions Amid Global Market Disruptions

U.S. Treasury Extends Waiver for Russian Oil Transactions Amid Global Market Disruptions

The U.S. Department of the Treasury has extended a sanctions waiver that permits certain transactions involving Russian-origin crude oil and petroleum products. This waiver, issued by the Treasury Department’s Office of Foreign Assets Control (OFAC), allows transactions that are 'ordinarily incident and necessary' to the delivery, sale, or offloading of Russian crude oil and petroleum products loaded onto vessels on or before April 17, 2026. The new General License 134C, effective from May 18, 2026, replaces the previous license which expired on May 16. The waiver is valid through June 17, 2026, and includes services related to vessel operations such as docking, anchoring, and emergency repairs. However, it does not authorize transactions involving countries like Iran, Cuba, and North Korea, or entities controlled by sanctioned parties in those regions.
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US extends sanctions waiver on Russian oil to aid vulnerable countries

US extends sanctions waiver on Russian oil to aid vulnerable countries

By David Lawder PARIS, May 18 (Reuters) - U.S. Treasury Secretary Scott Bessent on Monday announced another 30-day extension of a sanctions waiver allowing purchases of Russian seaborne oil to aid "energy-vulnerable" countries hit by the Iran war, reversing plans not to grant an extension.
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US imposes fresh sanctions on Iranian exchange house, shadow fleet vessels

US imposes fresh sanctions on Iranian exchange house, shadow fleet vessels

WASHINGTON, May 19 (Reuters) - The Trump administration on Tuesday imposed sanctions on an Iranian foreign currency exchange house and what it said were front companies overseeing transactions on behalf of Iranian banks as the U.S. maintains pressure on Tehran.   
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U.S. Treasury Extends Waiver for Russian Oil Cargo Transactions Amid Market Disruptions

U.S. Treasury Extends Waiver for Russian Oil Cargo Transactions Amid Market Disruptions

U.S. Treasury Extends Waiver for Russian Oil Cargo Transactions Amid Market Disruptions
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The Latest: Trump calls off Iran strike planned for Tuesday to allow for ‘serious negotiations’

The Latest: Trump calls off Iran strike planned for Tuesday to allow for ‘serious negotiations’

President Donald Trump said he is holding off on a planned military strike on Iran at the request of several allies in the Middle East because “serious negotiations” are underway
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The UAE's image as a Middle Eastern haven is tested by the Iran war

The UAE's image as a Middle Eastern haven is tested by the Iran war

The United Arab Emirates for decades advertised itself as a haven for business in the Middle East
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NATO Considers Mission in Strait of Hormuz Amid Shipping Disruptions

NATO Considers Mission in Strait of Hormuz Amid Shipping Disruptions

NATO is deliberating on a potential mission to ensure safe passage for ships through the Strait of Hormuz, which has been blocked by Iran since late February. This blockade followed the commencement of U.S. and Israeli military actions against Iran. The closure of this critical waterway, which facilitates the transit of about 20% of the world's oil and liquefied natural gas, has led to significant economic repercussions, including soaring energy prices and declining growth forecasts. While some NATO members support the idea of intervening to reopen the strait, the alliance has not yet reached a unanimous decision. A meeting of NATO leaders is scheduled for July 7-8 in Ankara to discuss the issue further.
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President Trump Postpones Iran Strike Amid Gulf Allies' Diplomatic Appeals

President Trump Postpones Iran Strike Amid Gulf Allies' Diplomatic Appeals

President Donald Trump has decided to delay a planned military strike on Iran following appeals from leaders of Saudi Arabia, Qatar, and the United Arab Emirates. These Gulf allies have urged the United States to allow more time for diplomatic efforts aimed at resolving the ongoing conflict and stabilizing regional energy markets. The conflict has significantly disrupted global oil and LNG flows, contributing to a sharp rise in crude prices. Despite the diplomatic push, negotiations between Washington and Tehran remain stalled. The White House rejected a proposal mediated by Pakistan due to insufficient commitments from Iran regarding its enriched uranium stockpile and future enrichment activities. Meanwhile, Iran continues to demand sanctions relief, access to frozen assets, and compensation related to the conflict. The situation is further complicated by security concerns, as the UAE reported a drone strike near the Barakah nuclear power plant, and Saudi Arabia intercepted drones entering its airspace fr...
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US Ends Sanctions Waiver on Russian Oil, Impacting Global Oil Markets

US Ends Sanctions Waiver on Russian Oil, Impacting Global Oil Markets

The Trump administration has allowed a sanctions waiver to lapse, which previously permitted countries such as India to purchase Russian seaborne oil. This decision follows a month-long extension intended to mitigate oil supply shortages and high prices caused by Iran's closure of the Strait of Hormuz. The US Treasury Secretary, Scott Bessent, had indicated that the general license allowing the purchase of Russian oil stored on tankers would not be renewed. As of Saturday afternoon, no renewal notice was posted on the Treasury's website. This move comes amid ongoing tensions between Russia and Ukraine, with recent drone attacks escalating the conflict. The lapse of the waiver is part of broader US efforts to limit revenue streams to Russia, which are believed to support its military actions in Ukraine.
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Iran's Foreign Minister Cites Lack of Trust as Barrier in U.S. Negotiations

Iran's Foreign Minister Cites Lack of Trust as Barrier in U.S. Negotiations

Iran's Foreign Minister Abbas Araghchi has stated that a lack of trust is the primary obstacle in negotiations with the United States to end ongoing hostilities. Speaking in New Delhi, Araghchi expressed skepticism about the U.S.'s intentions, despite Iran's openness to diplomatic assistance from countries like China. President Trump has dismissed Iran's recent proposals, demanding the removal of highly enriched uranium from Iran to prevent nuclear weapon development. Meanwhile, separate negotiations between Israel and Lebanon have resulted in an extension of their ceasefire, with further talks scheduled. The situation remains tense, with Iran maintaining control over the Strait of Hormuz, a critical oil passage, while the U.S. enforces a blockade on Iranian ports.