US Sanctions

he US has extended sanctions waiver on Russian oil purchases till June 17, easing pressure on Indian refiners reliant on discounted crude imports

Treasury Secretary Scott Bessent says 30-day extension will help stabilise crude markets and support countries affected by Gulf supply disruptions

Sujata Sharma, Joint Secretary in the Petroleum Ministry, said India has been buying Russian oil irrespective of US sanctions waivers

In May, flows are expected to come in at close to 1.9 million barrels a day, close to peak levels - though that still includes a period under the US permit that was allowed to expire over the weekend

The stance highlights the fine balance the world's third-biggest oil importer and consumer is seeking ‌to strike between securing energy supplies and avoiding LNG cargoes under sanctions

US Treasury Department accused the IRGC of using the revenue to direct it towards weapons development, backing terrorist proxies and funding security forces

Bessent suggested that the Iranian petroleum sector is facing an imminent crisis and may be forced to begin shutting in wells in the next week, as the nation's crude storage is 'rapidly filling up'

The US on Friday sanctioned a China-based crude oil terminal operator for importing petroleum products from Iranian entities and warned others of facing the same consequences if they paid a toll to Tehran to cross the Strait of Hormuz. "The US is taking decisive action to disrupt Iran's illicit oil trade, the Iranian regime's primary revenue streams that fund terrorism and regional destabilization," US Department of State spokesman Tommy Pigott said in a statement. Pigott said the department sanctioned multiple entities, an individual, and a vessel involved in the trade of Iranian petroleum and petroleum products. The action targets a China-based petroleum terminal operator - Qingdao Haiye Oil Terminal Co., Ltd. - that has imported tens of millions of barrels of sanctioned Iranian crude oil since February last year. The US also sanctioned Xingchun Li, a Chinese national and the president of QINGDAO HAIYE, and two vessel management companies UK-based Thriving Times International an

The move aims to choke off a financial lifeline that has moved tens of billions of dollars to fund the Iranian regime's armed forces, missile programs, and regional terrorist proxies

The Trump administration is placing economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil. The move, announced Friday and first reported by The Associated Press, makes good on the Trump administration's threat to impose secondary sanctions on companies and countries that do business with Iran. It's also part of the Republican administration's overall ramped-up campaign to cut off Iran's key source of revenue - its oil exports. Concurrently, the US this month imposed a physical blockade on the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. These sanctions come just a few weeks before President Donald Trump and China's Xi Jinping are due to meet in China. Included in Friday's sanctions is Hengli Petrochemical's facility in the port city of Dalian, which has a processing capacity of roughly 400,000 barrels of crude oil per day, making it one of the biggest ...

India plans to divest its stake in Chabahar Port ahead of US sanctions expiry, balancing strategic interests with geopolitical and legal risks

The US imposed sanctions on seven senior commanders of Iraqi militias that are supported by Iran, including groups like Kataib Hezbollah and Asaib Ahl al-Haq, for allegedly planning and carrying out attacks on US personnel and coalition forces in the region. Officials have said the move is part of a broader effort to counter Iran's influence in Iraq and deter further violence against US interests. The action also signifies a US strategy of using economic pressure, not just military force, to target Iran's network of allies, while warning global banks and firms to stop doing business with anyone tied to these groups. "We will not allow Iraq's terrorist militias, backed by Iran, to threaten American lives or interests," Secretary of the Treasury Scott Bessent said Friday. "Those who enable these militias' violence will be held accountable." US Central Command says ships moving through Strait of Hormuz ------------------------------------------------------------------------ "We'll s

The United States on Wednesday ruled out granting any further exemption from sanctions for the purchase of Russian or Iranian oil. US Treasury Scott Bessent announced at a press conference at the White House here. "We will not be renewing the general license on Russian oil, and we will not be renewing the general license on Iranian oil. That was oil that was on the water prior to March 11, so all that has been used," Bessent told reporters here. On March 5, the US issued a 30-day sanctions waiver to India, permitting it to buy Russian oil despite sanctions imposed over the Ukraine war. A few days later, the US extended the sanctions waiver to a few other nations. The waiver from sanctions expired on April 11.

Shipowners, energy traders and investors across financial markets have been keenly following its route through Hormuz as they try to understand the latest US effort to pressure Tehran

There was no immediate statement from the United States about any unfreezing of assets. Qatar's Foreign Ministry did not immediately respond to a request for comment

US Treasury Secretary said the waiver could release about 140 mn barrels into markets amid Hormuz disruptions, as rising fuel costs intensify inflation worries and political pressure on Trump admin

Trump told reporters in Florida on Monday that his administration was lifting sanctions on some countries as part of efforts to stabilise the oil market, but declined to provide details

India is exploring alternative LNG and LPG supplies to bypass the Strait of Hormuz as officials clarify that the US sanctions waiver covers Rosneft and Lukoil crude stranded at sea

Pressure on Havana has been mounting since late last year, when US forces seized a ship carrying Venezuelan crude to Cuba

According to State Department, Palau's Senate chief was designated 'for his involvement in significant corruption on behalf of China-based actors'