Washington (Monitoring Desk): The United States Department of the Treasury has announced that it will not extend the temporary relief granted on oil sanctions imposed on Iran.
According to a statement issued by the Treasury Department, the short-term authorization allowing the sale of Iranian oil stored at sea will expire on April 19 and will not be renewed.
Officials stated that the purpose of this decision is to maintain maximum pressure on Iran in order to limit its economic activities.
The US Treasury also indicated that it is prepared to impose sanctions on foreign financial institutions that continue to support Iran’s activities.
