The US will not renew a 30-day sanctions waiver on Iranian oil shipments at sea set to expire this week, while also allowing a similar waiver on Russian oil to lapse over the weekend, according to administration officials cited by Reuters.

The decision comes as Washington moves to intensify restrictions on crude exports from Iranian ports, signaling a shift toward stricter enforcement of sanctions. One official indicated that the US Treasury is escalating its pressure campaign on Iran, referencing a broader push aligned with ongoing military and geopolitical developments.

Trump’s administration has consistently pursued a “maximum pressure” strategy targeting Iran’s nuclear program and its regional activities, although Iranian crude exports, particularly to China, have continued despite sanctions.

The waiver, introduced on March 20, had allowed approximately 140 million barrels (mmbbl) of oil to enter global markets, helping to ease supply constraints during the recent escalation in the Middle East. US Treasury Secretary Scott Bessent previously noted the role in stabilizing energy markets.

With the waiver due to expire on April 19 and no extension granted, alongside the lapse of the Russian oil waiver, the move marks a departure from earlier efforts to ease supply pressures and curb rising global oil prices.