The United States has decided not to renew sanctions waivers that allowed limited purchases of Iranian and Russian oil, a move expected to tighten global energy supplies. US Treasury Secretary Scott Bessent confirmed that both waivers will expire, ending a temporary measure that had helped ease supply pressures during ongoing geopolitical tensions. The Iranian waiver alone had enabled nearly 140 million barrels of oil to enter global markets, stabilising prices amid conflict-driven disruptions. With the waivers set to lapse, concerns are rising over potential supply shortages and renewed volatility in oil markets. The decision marks a shift in US policy as it moves away from temporary relief measures, potentially impacting global fuel prices and energy security.