U.S. Launches All-Out Pressure on Iran... Treasury: "Sanctions Waivers on Iranian Oil to End"

The United States has launched an all-out pressure campaign against Iran by imposing a full maritime blockade, and on the 14th (local time), the U.S. Department of the Treasury announced that it will not extend the waiver period for sanctions on Iranian crude oil.

Scott Bessent, U.S. Secretary of the Treasury, is speaking at an international financial event held in Washington D.C. on the 14th (local time). Photo by AFP.

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On the same day, the U.S. Department of the Treasury stated via the social networking service X (formerly Twitter), "The temporary measure that has allowed the sale of Iranian crude oil stored at sea will expire within a few days, and it will not be renewed." The department added, "We will use all available means to maintain pressure on Iran."

The department also sent a warning message, saying, "Through 'Economic Fury,' the Treasury is maintaining maximum pressure on Iran and acting aggressively," and "We are prepared to impose secondary sanctions on foreign financial institutions that continue to support Iran's activities." 'Economic Fury' appears to be a term derived from 'Epic Fury,' the name of the U.S. military operation launched against Iran.

Previously, the U.S. government partially eased sanctions on Iranian and Russian crude oil for one month as international oil prices surged to over 100 dollars per barrel, amid strong upward pressure. This is interpreted as an indication that the U.S. will end these measures after the current deadline of the 19th of this month. It is also understood that the United States did not extend the waiver for maritime Russian crude oil transactions, which expired on the 11th.

On the same day, U.S. Secretary of Energy Chris Wright also suggested the possibility that the United States could use other means to intensify economic pressure on Iran. In an interview with Fox News, he stated that the maritime blockade is "one way to end this conflict," but added, "There may be additional means of economic pressure as well."

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