US will not renew Iran, Russia oil waivers

U.S. Treasury Secretary Scott Bessent has announced the United States does not plan to renew a waiver that allows the purchase of Iranian and Russian oil that is currently in transit at sea. This decision is part of the Trump administration's ongoing 'Economic Fury' pressure campaign to systematically weaken Tehran's ability to fund its activities. The move effectively tightens sanctions enforcement, targeting a key revenue stream for both nations. The announcement signals a continued hardline stance on sanctions compliance.