US ramps up ‘economic fury’ as Iran oil waiver expires, tightens pressure on Tehran

The waiver, originally issued on March 20, is set to expire on Sunday and applied only to Iranian oil and petrochemical products.

Published on: Apr 15, 2026, 03:20:22 IST

Edited by Priyanjali Narayan

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The Trump administration will allow a temporary waiver permitting the purchase of certain Iranian crude oil to expire this weekend, signaling a continuation of its pressure campaign on Tehran.

The waiver, originally issued on March 20, is set to expire on Sunday and applied only to Iranian oil and petrochemical products. (Bloomberg Representational)

In a social media post on Tuesday, the US Treasury Department said, “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,” adding that it plans to use other available tools to sustain pressure on Iran.

The department also warned financial institutions of further action, stating, “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 financial institutions that continue to support Iran’s activities.”

Also Read | Saudi Arabia Is Pressing US to Drop Its Hormuz Blockade

Why the decision?

The decision comes as the United States enforces a blockade on traffic through the Strait of Hormuz following peace talks last weekend that failed to produce a breakthrough.

The waiver, originally issued on March 20, is set to expire on Sunday and applied only to Iranian oil and petrochemical products that had already been loaded onto tankers.

The administration had previously allowed a similar waiver, covering purchases of certain sanctioned Russian crude, to lapse.

More on the US-Iran war

The ongoing US and Israeli conflict with Iran has triggered a global energy shock, prompting the administration to explore ways to ease prices. However, President Donald Trump’s administration has faced criticism for easing sanctions on oil from Iran and Russia during conflicts in both the Middle East and Ukraine.

Reinforcing its stance, the Treasury Department said, “Treasury is moving aggressively with Economic Fury, maintaining maximum pressure on Iran.”

Energy Secretary Chris Wright also suggested additional measures could follow. Speaking on Fox News, he said the blockade is one method “to bring this conflict to an end,” but added that “there could be other sources of economic pressure as well.”

ABOUT THE AUTHOR
Priyanjali Narayan
Priyanjali Narayan is a journalist with Hindustan Times based in New Delhi. She has over two years of experience covering national and international affairs, reporting on breaking news, producing in-depth explainers, and writing feature stories. Her work explores the political, social, and cultural dimensions of major events, with a focus on providing clear, nuanced, and accessible journalism for a broad audience.Before joining Hindustan Times, she was part of the India Today newsroom, where she specialised in explanatory journalism. There, she wrote detailed analyses of major domestic and international issues and produced feature stories that included interviews with prominent public figures. The role strengthened her ability to combine speed with depth in a fast-paced news environment.She holds a Bachelor’s and a Master’s degree in History from the University of Delhi. Her academic training continues to shape her storytelling, grounding her work in historical context and research-driven insight.Outside the newsroom, she enjoys reading personal essays and fiction, and is often planning her next trip, always seeking stories that deepen her understanding of people and places.Read More

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