US to End Oil Sanction Waivers for Russia and Iran to Tighten Economic Blockade

Treasury Secretary Scott Bessent ruled out further extensions for oil sales, warning that Tehran may be forced to shutter production within days as the naval blockade takes full effect. Make us preferred on Google Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied US Secretary of Treasury Scott Bessent testifies during a Senate Appropriations Subcommittee on Financial Services and General Government hearing on Capitol Hill in Washington, DC, on April 22, 2026. (Photo by SAUL LOEB / AFP) Content Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied Flip Make us preferred on Google The United States has decided to completely phase out sanctions waivers that previously allowed limited shipments of Russian and Iranian oil to reach global markets. Treasury Secretary Scott Bessent announced on Friday, April 24, that the administration has no plans to renew General License 134B or any similar exemptions, Associated Press reported. Follow our coverage of the war on the @Kyivpost_official . Bessent emphasized that a renewal for Iranian oil currently at sea is “totally off the table,” noting that the ongoing naval blockade has effectively halted exports. He predicted that within the next two to three days, Iran will be forced to start shuttering production, a move that could cause long-term damage to its oil wells. The decision marks a reversal from the Treasury’s move last week, when it issued a 30-day extension to stabilize energy prices following appeals from more than 10 of the world’s poorest and most energy-vulnerable nations. While the waiver was intended to cool a market where crude prices surged above $100 per barrel, it drew sharp criticism from Kyiv and US lawmakers. President Volodymyr Zelensky has been a vocal critic of such relief, arguing that every dollar from Russian oil exports directly funds Moscow’s “murderous war machine.” On April 19, Zelensky warned that over 110 tankers from Russia’s shadow fleet, carrying oil valued at approximately $10 billion , were able to be sold without consequences due to these exemptions. He noted that such funds are converted into thousands of drones and missiles used against Ukrainian territory. Other Topics of Interest Russian Tu-95 Bombers Launch Cruise Missiles from Caspian Sea Ukraine’s Air Force said Russian strategic bombers likely launched cruise missiles from the Caspian Sea area overnight, urging civilians not to ignore air raid alerts. With the Strait of Hormuz effectively closed and the US-Israeli campaign against Iran continuing, Bessent stated that the Russian oil previously at sea has been “largely sucked up,” making further extensions unnecessary. The administration’s shift back to a “zero-waiver” policy signals a return to maximum economic pressure on both Moscow and Tehran as the November midterm elections approach. Kyiv Post is Ukraine’s first and oldest English news organization since 1995. Its international market reach of 97% outside of Ukraine makes it truly Ukraine’s Global – and most reliable – Voice.