‘Economic Fury’: US Refuses To Extend Iran Oil Sanctions Waiver Amid Homruz Blockade

The Treasury department also issued a direct warning to global financial institutions, signalling tougher enforcement ahead.
With just days left before a key deadline, the United States has announced that it does not plan to renew a temporary easing of sanctions on Iranian oil that aimed to ease war-related supply shocks, signalling a tougher stance as tensions remain high.
The US Treasury Department, in a statement, said that it will not extend a temporary waiver that allowed the sale of Iranian oil already loaded onto ships. The waiver is set to expire on April 19.
“The short-term authorization permitting the sale of Iranian oil already stranded at sea is set to expire in a few days and will not be renewed," it said in a post on X.
Treasury is moving aggressively with Economic Fury, maintaining maximum pressure on Iran. Financial institutions should be on notice that the department is leveraging the full range of available tools and authorities and is prepared to deploy secondary sanctions against foreign… Treasury Department (@USTreasury) April 14, 2026
The move came as the Trump administration ramps up what it called “Economic Fury," a renewed phase of its maximum pressure campaign against Iran.
The Treasury department also issued a direct warning to global financial institutions, signalling tougher enforcement ahead.
“Financial institutions should be on notice that the department is leveraging the full range of available tools and authorities," it said, adding it was prepared to impose secondary sanctions on foreign banks continuing to facilitate Iranian transactions.
The waiver, introduced in March, had allowed Iran to sell oil that was loaded before March 20 estimated at around 140 million barrels to help ease global supply concerns during the ongoing conflict.
Washington’s decision comes at a sensitive time as a fragile ceasefire between the US and Iran is still in place, but recent talks in Pakistan failed to produce a breakthrough. Following that, Washington imposed a blockade on Iranian-linked shipping through the Strait of Hormuz, one of the world’s most important oil routes.
By ending the waiver, the US is expected to further squeeze Iran’s oil exports, which are a major source of revenue for the country. At the same time, Washington is also targeting financial networks linked to Iran. A senior US official, speaking on condition of anonymity, told AFP that the Trump administration is sending letters to China, Hong Kong, the United Arab Emirates, and Oman, pointing to banks in their jurisdictions believed to have permitted Iranian illicit activity.
US Treasury Secretary Scott Bessent has urged quick action, warning that failure to act could lead to further steps by Washington.
Officials say Iran has been using complex networks and front companies to move billions of dollars through international banking systems, raising concerns about sanctions evasion.





