NewzVille Desk
As Tehran continues the closure of the Strait of Hormuz amid the West Asia war, the United States has announced tighter sanctions against Iran’s oil industry.
The new measures target oil transport infrastructure, imposing sanctions on more than two dozen individuals, companies and ships operating within the network of petroleum shipping magnate Mohammad Hossein Shamkhani, son of security official Ali Shamkhani, an advisor to Iranian Supreme Leader Ali Khamenei, both of whom were killed on February 28, the first day of US-Israeli attacks and the start of the war.
Separately, US Treasury Secretary Scott Bessent said Washington does not plan to extend a temporary sanctions waiver that allowed the sale of Russian oil already at sea.
The United States has ruled out granting any further exemption from sanctions for the purchase of Russian or Iranian oil.
Making this announcement at a press conference at the White House, US Treasury Secretary Scott Bessent said the existing waivers will not be renewed.
He said the oil covered under earlier exemptions was already in transit prior to March 11, adding that all that has been used.
Earlier, on the 5th of last month, the US issued a 30-day sanctions waiver allowing India to buy Russian oil despite restrictions linked to the Ukraine war. The waiver was later extended to some other countries before expiring on the 11th of this month.
