OfficialDiplomacy & politicsBackgroundWashington, United States
Treasury lets Iranian oil-at-sea waiver lapse and warns banks of secondary sanctions
- Mountain Time
- Local time
- 5:15 PM in New York
- Where
- Washington, United States
The U.S. Treasury said the short-term authorization allowing sale of Iranian oil already at sea, set to run through April 19, would not be renewed, and that it was prepared to use secondary sanctions against foreign financial institutions supporting Iran. AP reported a Treasury letter warned banks in China, Hong Kong, the UAE and Oman over Iranian money flows.
Why it matters
Ending the waiver and threatening foreign banks extended the naval blockade into the financial system, targeting buyers and payment channels for Iranian crude.
Sources (3)
- Associated Pressapnews.comPublished
- Al Jazeeraaljazeera.comPublished
- Associated Press (2)apnews.comPublished
Confidence: Stated by a named government, military, or institution. Not independently confirmed. About confidence labels