US imposes sanctions on Gaza flotilla organisers amid Israeli crackdown

The US has extended a sanctions waiver for countries purchasing Russian oil and petroleum products currently at sea until June 17. This extension aims to provide vulnerable nations with temporary access to this oil and stabilize the physical crude market. The waiver was initially implemented in March due to surging global energy prices following US-Israel strikes on Iran, and its renewal is influenced by ongoing geopolitical tensions and the closure of the Strait of Hormuz. Approximately 113 million barrels of Russian oil are currently at sea. Major buyers like India and China continue to purchase Russian oil, with India stating the waiver does not affect its existing supplies.

US Treasury Secretary Scott Bessent announced a 30-day extension for countries to import Russian oil currently at sea. This decision aims to mitigate oil supply shortages exacerbated by the Iran war. The move represents a policy shift for the administration, which had previously indicated a resumption of sanctions on Russian oil. This temporary waiver on sanctions, first introduced in early March, was previously renewed in April. Bessent stated the extension would benefit poorer nations, preventing China from stockpiling discounted Russian oil.

The United States has imposed sanctions on four activists involved in flotillas attempting to break Israel's blockade on Gaza, alleging they support Hamas. These sanctions, announced on May 19, 2026, coincide with Israeli military interceptions of Gaza-bound ships. The US Treasury Department stated the sanctions aim to sever Hamas's financial support networks. The targeted individuals are associated with the Popular Conference for Palestinians Abroad (PCPA) and Samidoun, groups previously sanctioned by the US. Rights advocates criticize the US for using a "terrorism label" to suppress international Palestine activism, arguing these sanctions aid genocide and threaten Palestinian diaspora communities. The sanctions freeze assets and prohibit US business dealings with the targeted individuals.

The US Treasury Department has imposed new sanctions on an Iranian foreign currency exchange house, Amin Exchange, and its network of front companies in the UAE, Turkey, and Hong Kong. The sanctions also target 19 vessels involved in shipping Iranian petroleum and petrochemicals. This action, taken by the Donald Trump administration, aims to maintain pressure on Tehran by disrupting its financial transactions and ability to evade sanctions. The Treasury Department stated that Iranian exchange houses facilitate billions of dollars in foreign currency transactions annually, enabling the government to access the international financial system. The move follows Iran's submission of a peace proposal to the United States concerning the ongoing conflict.