The US Treasury Secretary stated that the US will not extend sanctions exemptions for Russian and Iranian oil. This decision comes amid the ongoing US-Israel war against Iran and the closure of the Strait of Hormuz, disrupting global energy markets. The US initially granted a waiver of sanctions on Russian oil sales to stabilize prices.
India is considering divesting its stake in Chabahar Port due to impending US sanctions, negotiating a conditional return of the stake to Iran. Recent tensions in the Gulf have made US sanctions waivers unlikely, with the port's sanctions expiring on April 26, 2026. Chabahar Port remains strategically important for India, serving as a gateway for INSTC and facilitating emergency aid to Afghanistan.