US Treasury: Temporary Waivers for Iranian Oil Sanctions Not to Be Extended Upon Expiration

US Treasury: Temporary Waivers for Iranian Oil Sanctions Not to Be Extended Upon Expiration. Key News on US-Iran War. Central News Agency. (CNA Washington) April 14: The US Department of the Treasury announced today that temporary sanctions waivers for Iranian oil will not be extended upon their expiration. The Treasury Department issued a statement saying: "The short-term authorization allowing the delivery and sale of Iranian oil stranded at sea will expire in the coming days and will not be extended." The Treasury Department added that the US is "maintaining maximum pressure on Tehran." This authorization allowed for the delivery and sale of Iranian oil loaded before March 20th, with a limited expiration date of April 19th. This is one of the measures taken by the Trump administration in response to the surge in energy prices caused by the war that began on February 28th, which also included extending sanctions waivers for Russian seaborne oil. Iran effectively blockaded shipping through the Strait of Hormuz in response to the joint US-Israeli attack; approximately one-fifth of the world's oil and liquefied natural gas (LNG) transport must pass through the Strait of Hormuz. After recent negotiations in Pakistan between the US and Iran, which agreed to a two-week ceasefire, failed to break the deadlock, Trump subsequently ordered the Navy to blockade maritime traffic entering and exiting Iranian ports, further pressuring Tehran. (Translated by Hong Qiyuan) 1150415. Support with your donations protects the power of press freedom. Download the CNA "Firsthand News" app for real-time updates. Text, images, and audio on this website may not be reproduced, publicly broadcast, transmitted, or used without authorization. Keywords: None.