Formula 1 and its governing body FIA said the Grand Prix races in Bahrain and Saudi Arabia will not happen in April because of safety concerns related to the Iran war.

The Trump administration will allow a temporary waiver permitting the purchase of certain Iranian crude oil to expire this weekend, signaling a continuation of its pressure campaign on Tehran.

Despite Washington’s “zero tolerance” policy and a presidential warning that any ships challenging the perimeter would be “immediately eliminated,” the Rich Starry, a sanctioned Chinese-owned tanker, ...