
Sanctions on Iranian oil at sea will resume Sunday: Treasury
The Treasury Department confirmed Tuesday that it would not renew the short-term authorization license waiving U.S. sanctions on Iranian oil already at sea. The sanctions will go back into effect on Sunday at 12:01 a.m. ET.
In a post on social media, the Treasury Department said that it was "moving aggressively with Economic Fury" to apply pressure to Iran and put financial institutions "on notice" that the department is prepared to implement secondary sanctions against foreign financial institutions doing business with Iran.
The sanctions were temporarily lifted as part of the administration's larger effort to increase supply and help drive global oil prices down. The U.S. also provided a waiver for Russian oil at sea to be temporarily unsanctioned amid the war. That license expired on April 11.







