The US has reinstated full sanctions on russian oil after the temporary relaxation that was in effect for the past month by the decision of the Donald Trump

Treasury Secretary Scott Bessent says the US will squeeze Iran’s economy by reinstalling sanctions on the country’s oil, and targeting customers who flout them.

US Treasury Secretary Scott Bessent has recently focused his remarks on escalating economic pressure and stricter sanctions enforcement in the ongoing US-Iran conflict. Amid this backdrop, a viral post online claimed that Bessent said China will no longer be able to obtain oil from Iran.

US Treasury Secretary Scott Bessent has signalled a possible easing of sanctions on Iranian oil already at sea as Washington seeks to stabilize global energy markets amid rising prices. "In the

US Treasury Secretary Scott Bessent said the addition of sanctioned Iranian oil into global supplies would help keep oil prices down for the next 10 to 14 days. Oil prices have been above $100 per barrel for much of the past two weeks as Iran has closed the Strait of Hormuz to shipping and has attacked tankers.

The United States will not be renewing ​the waivers that allowed purchase of some Iranian and ‌Russian oil without facing U.S. sanctions, Treasury Secretary Scott Bessent told reporters on Wednesday.

Treasury Secretary Scott Bessent reaffirmed that the US would not renew general licenses that allowed for the temporary sale of certain Russian and Iranian crude.