The United States has announced it will not renew sanctions exemptions that had allowed the purchase of Russian and Iranian oil. Treasury Secretary Scott Bessent confirmed at a White House press conference on Wednesday that the general licences — which covered oil that was already at sea before 11 March — have expired and will not be extended. The move tightens Washington's energy sanctions posture against both Moscow and Tehran, closing a temporary waiver window that had permitted limited oil trade to continue under existing shipments.