{"id":50893,"date":"2026-04-14T23:30:29","date_gmt":"2026-04-14T23:30:29","guid":{"rendered":"https:\/\/foreignnewstoday.com\/?p=50893"},"modified":"2026-04-14T23:30:29","modified_gmt":"2026-04-14T23:30:29","slug":"us-vows-to-unleash-full-economic-fury-on-iran","status":"publish","type":"post","link":"https:\/\/foreignnewstoday.com\/?p=50893","title":{"rendered":"US vows to unleash full &#8216;Economic Fury&#8217; on Iran"},"content":{"rendered":"<p><br \/>\n<br \/><\/p>\n<div>\n<p>The US <a href=\"https:\/\/nypost.com\/2026\/04\/14\/world-news\/iran-linked-ships-transit-through-strait-of-hormuz-in-defiance-of-president-trumps-blockade\/\">warned Tuesday<\/a> it will unleash full \u201cEconomic Fury\u201d on Iran, ending a reprieve on sanctions of Tehran oil at sea and threatening to move against foreign banks that back Iran\u2019s terror activities.<\/p>\n<p>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 <a href=\"https:\/\/nypost.com\/2026\/02\/25\/us-news\/treasury-sanctions-irans-petroleum-shadow-fleet-ballistic-missile-networks\/\">sanctions on Iranian oil <\/a>at sea set to expire this week.<\/p>\n<p>\u201cTreasury is moving aggressively with Economic Fury, maintaining maximum pressure on Iran,\u201d the agency said in a statement while referencing<a href=\"https:\/\/nypost.com\/2026\/03\/31\/world-news\/striking-images-reveal-us-forces-in-action-during-operation-epic-fury-photos\/\"> Operation Epic Fury<\/a>, the current US military campaign in the Middle East. <\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>US Treasury Secretary Scott Bessent warns foreign banks to cut their ties with entities funding Iran\u2019s terror network. <span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cThe 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,\u201d the department said<\/p>\n<p>The treasury had allowed about 140 million barrels of Iranian oil\u00a0at sea to continue their shipments March 20 to alleviate <a href=\"https:\/\/nypost.com\/2026\/03\/20\/business\/saudi-arabia-warns-oil-prices-could-spike-past-180-a-barrel-if-iran-war-rages-on-report\/\">soaring fuel prices caused by the war<\/a>.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>The waiver is set to expire April 19. The US said it also will not renew the waiver on Russian oil at sea, which expired Saturday, Trump administration sources told Reuters.<\/p>\n<p>Both waivers had received backlash from US lawmakers, who argued they provided an economic lifeline to the people in Iran and Russia at a time of war in both countries.<\/p>\n<p>Along with ending the waivers, The Treasury Department also added pressure to countries and municipalities that host banks that allegedly help fund Iran. <\/p>\n<p>\u201cFinancial 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\u2019s activities,\u201d it sid.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The US will not renew controversial waivers on sanctions for Iranian oil at sea, which would serve a blow to Tehran\u2019s already troubled economy. <span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The US is holding a blockade around the Strait of Hormuz to intercept any ship coming or going from Iranian ports.  <span class=\"credit\">NASA Earth Observatory\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>The treasury specifically sent out letters detailing the warning to China, Hong \u2060Kong, the United Arab Emirates and Oman after identifying banks in the nations linked to Iran.<\/p>\n<p>\u201cMy hope is for your swift action to identify and \u200bstop any illicit activity \u2060linked to Iran to avoid further action from Treasury,\u201d Treasury <a href=\"https:\/\/nypost.com\/2026\/03\/22\/us-news\/scott-bessent-suggests-trump-may-escalate-to-de-escalate-iran-war\/\">Secretary Scott Bessent<\/a> said in the letter.<\/p>\n<p>The department had previously informed banks last year that Iran had processed at least $9 billion through US correspondent accounts in 2024 with front companies in Hong Kong, the UAE and other countries.<\/p>\n<p><em>With Press wires  <br \/><\/em><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/nypost.com\/2026\/04\/14\/world-news\/us-vows-to-unleash-full-economic-fury-on-iran\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US warned Tuesday it will unleash full \u201cEconomic Fury\u201d on Iran, ending a reprieve on sanctions of Tehran oil at sea and threatening to move&hellip;<\/p>\n","protected":false},"author":1,"featured_media":50894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-50893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"_links":{"self":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/50893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50893"}],"version-history":[{"count":0,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/50893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/media\/50894"}],"wp:attachment":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}