The United States has announced it will not extend a temporary waiver that allowed the sale of Iranian oil, which is set to expire on April 19, 2026. This decision aligns with the Trump administration's 'Economic Fury' strategy, which aims to intensify pressure on Iran amidst heightened tensions. The waiver, introduced in March, permitted the sale of around 140 million barrels of oil already loaded onto ships, intended to alleviate global supply issues due to ongoing conflicts. The US Treasury Department has issued warnings to global financial institutions, indicating that it is prepared to impose secondary sanctions on banks facilitating Iranian transactions. This move comes at a critical time, as a fragile ceasefire exists between the US and Iran, and recent diplomatic efforts in Pakistan have failed to yield positive results. The US has also imposed a blockade on Iranian-linked shipping through the Strait of Hormuz, a vital oil route, further constraining Iran's oil exports, a key revenue source for the country.