United States Secretary of the Treasury Scott Bessent speaks at the White House Press Briefing room in Washington DC., United States on April 15, 2026. [Celal Güneş – Anadolu Agency]
US Treasury Secretary, Scott Bessent announced a 30-day extension of sanctions waivers on Iranian and Russian oil exports transported by sea, in a move described as a reversal of his earlier position.
Speaking during a Senate hearing, Bessent said the decision came in response to urgent requests from financial leaders in around 10 countries, which he described as the most vulnerable to energy shortages caused by the closure of the Strait of Hormuz and the ongoing war in the region.
He noted that discussions held during meetings at the International Monetary Fund and World Bank influenced the decision, aiming to prevent a global energy crisis.
The extension represents a sharp policy shift, as Scott Bessent had previously stated that no waivers related to expired sanctions would be renewed.
In a related context, Bessent dismissed reports that Iran had gained significant financial benefits from the exemptions, describing claims of $14 billion in revenue as “pure myth,” while declining to provide alternative figures or official estimates
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