US Treasury Announces Resumption of Sanctions on Russian and Iranian Oil Amid Energy Market Developments

The US Treasury announced on April 15, 2026, that it will resume sanctions on oil from Russia and Iran. This decision aims to address ongoing geopolitical tensions in energy markets. Treasury officials emphasized the need to curb flows of sanctioned oil.

The US Office of Foreign Assets Control imposed sanctions on nine tankers primarily transporting Russian oil. These actions target vessels involved in evading existing restrictions. The sanctions were announced earlier in the day, according to reports from maritime tracking services.

Sanctions Enforcement Actions Treasury officials sent letters to two Chinese banks, warning of secondary sanctions if evidence shows Iranian money flowing through their accounts.

Secondary sanctions would penalize foreign entities for dealings with sanctioned parties. This step seeks to tighten enforcement on global financial networks supporting Iranian oil sales. In related developments, Treasury Secretary Scott Bessent stated that a small amount of economic pain is acceptable to enhance long-term security against threats from Iran.

He made these remarks in an interview with BBC News. Bessent described the approach as necessary to prevent Iranian strikes on Western interests.