US warns financial institutions as Iran oil waiver expires

The US Treasury Department warned all financial institutions on Tuesday that it is prepared to deploy secondary sanctions against any entity it determines to be working in support of Iranian activities. The department said it is “moving aggressively with economic fury” to maintain “maximum pressure on Iran” amid a deadlock in direct negotiations. “Financial institutions should be on notice that the department is leveraging the full range of available tools and authorities and is prepared to deploy secondary sanctions against foreign financial institutions that continue to support Iran’s activities,” it posted on X.

Oil Waiver to Expire

The short‑term authorisation permitting the sale of Iranian oil already stranded at sea, issued on 20 March to mitigate the spike in global energy prices caused by the war, is set to expire in a few days and will not be renewed. The 30‑day waiver covered an estimated 140 million barrels of oil. The war, and Iran’s retaliatory closure of the Strait of Hormuz and attacks on energy infrastructure of US Gulf allies, sent energy prices soaring.

Talks to Resume?

Marathon direct talks between the US and Iran concluded on Saturday without agreement. President Donald Trump said earlier Tuesday that he expects negotiations to resume in Pakistan within two days, though no formal announcement has been made. Türkiye, which has consistently supported de‑escalation and diplomatic engagement, continues to coordinate with regional partners to help stabilise the situation and mitigate the economic fallout from the conflict.