U.S. to end waiver for seaborne Iranian oil, warns of secondary sanctions

The United States will not extend a 30-day sanctions waiver that allowed seaborne Iranian oil exports, officials said, tightening pressure on Tehran.

The waiver, issued on March 20, enabled around 140 million barrels of Iranian oil to reach global markets. It is due to expire on April 19.

The U.S. Treasury said financial institutions could face secondary sanctions if they continue to support Iran’s activities.

“Financial institutions should be aware that the department will use the full range of tools available,” it said in a statement cited by Bloomberg.

Sources told Reuters the move reflects a shift to a more aggressive sanctions approach, with Washington prepared to target entities involved in purchasing Iranian oil.

Separately, U.S. authorities warned banks in Oman, the United Arab Emirates, Hong Kong and China of possible sanctions over alleged Iran-linked transactions, according to Fox Business.

U.S. naval forces have also begun blocking maritime traffic linked to Iran near the Strait of Hormuz, while allowing vessels not connected to Iran to pass without restrictions if no transit payments are made to Tehran.