How will the end of US sanctions waivers impact Iran and global energy markets?
The Trump administration’s decision on April 22 to stop waiving sanctions on eight countries that purchase Iranian crude sent oil prices to their highest levels in six months and resulted in defiance and hand-wringing from the three biggest buyers. Meanwhile, Iran said it would retaliate by shutting the Strait of Hormuz, a move that would make it difficult for other Persian Gulf countries to get their crude to market.