1 of 1
Story summary
- The United States will not renew waivers permitting purchases of Iranian and Russian oil without sanctions, announced by Treasury Secretary Scott Bessent on April 15.
- The decision ends efforts to ease sanctions and increase oil supplies amid rising global energy prices.
- The waivers permitted around 140 million barrels of oil to reach markets and were initially issued to alleviate supply pressures during the ongoing war.
- The Iranian waiver expires on April 19, while the Russian waiver has already lapsed.
- This shift marks a significant change in U.S. energy policy.
