The U.S. Treasury has extended its temporary sanctions wind-down authorization for Russian oil cargoes at sea until mid-June. General License 134C allows transactions related to oil loaded before April 17, 2026, but does not permit new trades. This aims to stabilize markets amid ongoing tensions affecting global energy.
President Donald Trump has extended a crucial shipping waiver for 90 days to support strained fuel and fertiliser supply chains due to the Gulf crisis. This measure enhances the movement of essential commodities amidst disrupted maritime routes. Concurrently, Trump emphasized the urgency of reopening the Strait of Hormuz with UK Prime Minister Keir Starmer.
The Trump administration has reinstated strict sanctions on Iran’s oil trade, ending temporary waivers aimed at stabilizing prices. These sanctions focus on influential figures like Mohammad Hossein Shamkhani, disrupting Iran’s oil transportation networks. The Pentagon is also enforcing a blockade on Iranian ports, escalating enforcement efforts and complicating maritime trade.
The White House has issued a 60-day waiver of the Jones Act, stirring debate among U.S. shipping stakeholders. Press Secretary Karoline Leavitt explained it aims to relieve short-term oil market disruptions linked to military actions regarding Iran. Critics argue it risks American jobs and has minimal impact on fuel prices.
