While the president has promised rapid relief, Americans could feel the financial sting of the conflict for some time after it ends.
Category: Embargoes and Sanctions
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Trump Faces Blowback on Easing Iran Oil Sanctions
President Trump once assailed the Obama administration for making cash payments to Iran. Now he supports sanctions relief that could give the country a $14 billion windfall.
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U.S. Pauses Sanctions on Some Iranian Oil to Get More to Market
Treasury Secretary Scott Bessent estimated that the move would add about 140 million barrels of crude to the oil market.
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How High Will Oil Climb? Markets Brace for More Bad News.
Energy experts forecast more pain for consumers and businesses as the war in the Middle East shows no signs of easing.
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U.S. Encourages Flow of Iranian Oil While It Battles Iran
Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.
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U.S. Encourages Flow of Iranian Oil While It Battles Iran
Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.
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As War With Iran Hurts Oil Prices, U.S. Turns to Iranian Boats for Help
Iranian-linked ships carrying Russian oil were among those that received temporary exemptions from sanctions, a sign of how dire the energy crisis is becoming.
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Trump’s Move to Seize Oil Tankers Costs the U.S. Tens of Millions of Dollars
Although President Trump said seizing tankers would be a financial boon, the cost of maintaining just one aging ship has already reached $47 million.
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How This Oil Supply Shock Compares to the Embargo of 1973
Governments have stockpiled oil, and cars are more efficient but the supply shock is global, and there’s no sense of when it’ll end.
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As Oil Prices Rise, Trump’s War With Iran Becomes a Worldwide Economic Hazard
The president insists conflict with Iran will be brief, but world leaders are preparing for severe economic blowback.
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Senator Blumenthal Opens Inquiry Into Iran Transactions on Binance
Senator Richard Blumenthal of Connecticut sent a letter to Binance asking about the flow of $1.7 billion from accounts on the crypto exchange to Iranian entities.
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Supreme Court Considers Fate of Docks and Other Assets Seized by Cuba in 1960
Amid rising tensions with Cuba, the Trump administration is backing lawsuits that would allow Americans to get compensation for property confiscated by Fidel Castro’s regime.