US Treasury Secretary Scott Besent announced that the United States will not renew the licenses and exemptions that allowed the purchase of Iranian and Russian oil, in a measure aimed at increasing economic pressure on the two countries.
Besant reported that these licenses, which allowed some countries to purchase oil without falling under the penalty of sanctions, will not be extended, stressing that the permitted quantities have been “completely exhausted.”
He explained that this step represents an end to the policy of exemptions that were used to increase supply and reduce energy prices globally, as part of the shift towards a more stringent sanctions policy.
In this context, the minister expected that the US embargo would lead to China temporarily stopping its purchase of Iranian oil, and revealed that Washington had informed the importing countries of its readiness to impose secondary sanctions on those who violate this.
He also announced moves to freeze financial assets linked to the Iranian Revolutionary Guard and the Iranian leadership, as part of a broader range of financial measures.
New sanctions on oil and finance networks
In parallel, the US Treasury Department announced new sanctions targeting more than 20 individuals, companies, and ships within an oil smuggling network linked to Iran.
She explained that this network, run by Iranian businessman Mohammad Hossein Shamkhani, was generating billions of dollars in profits for parties linked to Tehran and Russia.
The sanctions also included a financial network linked to Hezbollah, as this network was accused of participating in money laundering operations by selling Iranian oil in exchange for Venezuelan gold, in order to finance the activities of the Revolutionary Guard.
She pointed out that these networks rely on fake companies and a “shadow fleet” of tankers to circumvent sanctions, using methods such as transferring shipments between ships and manipulating tracking systems.
Washington confirmed that these measures come within the framework of the “maximum pressure” policy, where assets will be frozen and dealing with the entities listed on the list will be prohibited, in addition to threatening to impose additional sanctions on those who cooperate with them.
These steps come as part of a broader US strategy aimed at stifling the Iranian economy, especially in the energy sector, which is considered a vital source of financing for the state.
Ending the waivers reflects a shift from a flexible policy to a more stringent approach, with the aim of reducing Iranian oil exports to the lowest possible level.
The targeting of smuggling and financing networks also indicates an increasing focus on pursuing unconventional methods that Tehran uses to evade sanctions.
On the other hand, these measures may affect global energy markets, especially in light of the sensitivity of supplies through the Strait of Hormuz, which increases the possibility of economic tension.
These sanctions coincide with a political and military escalation in the region, making the economic file part of a broader pressure equation in which security and diplomatic dimensions intersect.
