The US warned Tuesday it will unleash full “Economic Fury” on Iran, ending a reprieve on sanctions of Tehran oil at sea and threatening to move against foreign banks that back Iran’s terror activities.
After the first day of the US blockade on the Strait of Hormuz, the US Treasury Department signaled that it will not renew a 30-day waiver of sanctions on Iranian oil at sea set to expire this week.
“Treasury is moving aggressively with Economic Fury, maintaining maximum pressure on Iran,” the agency said in a statement while referencing Operation Epic Fury, the current US military campaign in the Middle East.
“The short-term authorization permitting the sale of Iranian oil already stranded at sea is set to expire in a few days and will not be renewed,” the department said
Read Full Article Here