# U.S. Treasury Secretary Scott Bessent said on Wednesday night that nations transacting with Tehran amid the war would now face secondary sanctions.

*fintech · news · 2026-04-16 · The Financial Express*

## Key points

- The US will not renew 30-day waivers for India and others to buy Russian and Iranian oil.
- Nations transacting with Iran amid the conflict now face possible US secondary sanctions.
- US Treasury warned banks in China, Hong Kong, UAE, and Oman about secondary sanctions for Iranian business.
- The expired waivers allowed 140 million barrels of Iranian oil to enter global markets temporarily.
- Modi and Trump discussed urgent Middle East security and upcoming major US-India energy deals.

**Countries:** United States, India, Iran, China, Hong Kong, United Arab Emirates, Oman

[Read the full story on The Financial Express](https://www.financialexpress.com/world-news/bessent-denies-renewal-of-us-waiver-for-india-to-purchase-russian-iranian-oil-issues-secondary-sanctions-warning/4208706/)

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