US Treasury says not renewing temporary Iran oil sanction easing

The US Treasury Department said Tuesday it does not plan to renew a temporary easing of sanctions on Iranian oil that aimed to ease war-related supply shocks. The temporary easing on Iranian oil previously was part of a series of measures launched by the Trump administration to quell skyrocketing energy prices following the start of the war on February 28, including a similar easing of sanctions on Russian oil at sea.