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Energy

U.S. won’t renew Iranian and Russian oil waivers, Bessent says

- Associated Press

Treasury Secretary Scott Bessent said Friday that the U.S. does not plan to renew a waiver allowing the purchase of Russian oil and petroleum products that are currently at sea. And, he said, a renewal of the one-time waiver for Iranian oil at sea is totally off the table.

Italian PM Meloni talks tough on Russia, but Italy still has an energy problem

- Special to The Washington Times

As EU leaders gathered in Cyprus on Thursday to wrestle with the fallout from the Iran war -- including high fossil-fuel prices, the security situation in the Straits of Hormuz and emergency tools to shield Europe's economy -- Italy arrived with a familiar problem: While Prime Minister Giorgia Meloni wants to keep the screws on Moscow, her country is still exposed to the energy shock that comes with it.

U.S. military says it seized another oil tanker associated with Iran

- Associated Press

The U.S. military on Thursday seized another tanker associated with the smuggling of Iranian oil, ratcheting up a standoff with Iran a day after its paramilitary Revolutionary Guards took control of two vessels in the crucial Strait of Hormuz.