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“Not the Iranians,” Bessent told The Associated Press. "We have
the blockade, and there’s no oil coming out.”
"And we think in the next two, three days, they’re going to have
to start shuttering production, which will be very bad for their
wells.”
Bessent's statements come as the world is on edge over the
U.S.-Israeli war in Iran, and global energy markets have been
ensnarled by the closure of the Strait of Hormuz.
The U.S. originally issued a waiver for Russian oil sales and
petroleum products in March with the intent of stabilizing
global energy markets after crude oil prices surged above $100
per barrel.
The Treasury Department renewed the waiver two days after
Bessent said at the White House that he had no plans to extend
the sanctions relief.
In an AP interview about the impact of the U.S.-Israeli war on
the global energy market and other topics, the U.S. treasury
secretary explained his previous change of heart and ruled out
the notion of renewing sanctions waivers for both Russia and
Iran.
Bessent said during the World Bank and International Monetary
Fund meetings last week, “More than 10 of the most vulnerable
and poorest countries came to me and said, ‘Can you help?”
Bessent said.
"It was for those vulnerable and poor countries. But I wouldn’t
imagine that we’d have another extension. I think the Russian
oil on the water has been largely sucked up.”
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