US treasury escalates economic fury campaign against Iran, signals no extension on oil sales deadline

The US Department of the Treasury has intensified its pressure campaign on Iran, warning global financial institutions of strict enforcement measures and confirming that a key authorisation for Iranian oil sales will not be extended beyond April 19.

In an official statement, the Treasury emphasised that it is deploying the “full range of available tools and authorities” under its renewed 'Economic Fury' strategy, associated with Donald Trump. The department cautioned that foreign banks and financial entities facilitating Iranian transactions could face secondary sanctions.

The expiring authorization had allowed limited sales of Iranian oil that was already stranded at sea. Officials confirmed that this short-term relief measure will lapse in the coming days, signaling a firm stance against any perceived easing of economic pressure.

The move comes amid heightened geopolitical tensions in the Strait of Hormuz, a critical global oil transit route. Washington has already taken steps to restrict Iranian-linked maritime activity in the region, further tightening economic and logistical constraints on Tehran.

Treasury officials reiterated that financial institutions worldwide should remain on high alert, as enforcement actions are expected to intensify in line with US policy objectives aimed at curbing Iran’s economic and strategic capabilities.