The United States has officially announced the termination of the permit for the sale of Russian oil, which was implemented after Iran blocked the Hormuz Strait. This permit allowed certain companies and countries to continue purchasing energy resources from the Russian Federation, but Washington has now decided not to extend it.
This is reported by Finway
US Position on Russian and Iranian Oil
At a briefing, US Treasury Secretary Scott Bessent emphasized that the American government is intensifying control not only over Russian oil but also over Iranian oil. Special attention will be given to countries and financial institutions that may be involved in circumventing sanctions or in holding Iranian funds in their accounts.
“If we can prove that Iranian money is passing through your accounts, we are prepared to impose secondary sanctions,” Bessent stated.
Pressure on China and Other Countries
Separately, the US Treasury Secretary highlighted that Washington expects China to cease its purchases of Iranian oil. Already, two major Chinese banks have received warnings about the potential consequences of cooperating with Iran. The US has also threatened sanctions against any other countries that purchase oil from Iran or hold Iranian financial assets in their banks.
Thus, the American government is intensifying its sanctions pressure on both the Russian Federation and Iran, attempting to limit their presence in the global oil market and their influence on the global economy.