The White House is not lifting its sanctions on Iran oil contrary to multiple reports, a U.S. official told the Daily Caller.
CNBC News reported Monday that Iranian sources indicated the United States agreed to lift its sanctions on Iran oil exports. Iranian government-affiliated Tasnim News Agency reported the same from a source close to the Iranian negotiating team.
“This is false,” the U.S. official clarified to the Caller.
The Iranian government has consistently demanded that the U.S. lift its oil sanctions, controlled by the Department of Treasury’s Office of Foreign Assets Control (OFAC), as part of their war-time negotiations with the White House. (RELATED: Iran, US Peace Talks Still Stuck In Mud, Trump Says)
Iran reportedly submitted a revised document for negotiations on Monday to the White House after previous failed attempts to reach an agreement. President Donald Trump described the proposal as a “piece of garbage,” according to Fox News.
The president called off plans for a scheduled attack on Iran on Monday at the request of Persian Gulf allies, saying that “serious negotiations are now taking place.”
“Serious negotiations are now taking place, and that, in their opinion, as Great Leaders and Allies, a Deal will be made, which will be very acceptable to the United States of America, as well as all Countries in the Middle East, and beyond… we will NOT be doing the scheduled… pic.twitter.com/cxBBaNUB6E
— The White House (@WhiteHouse) May 18, 2026
Trump imposed heavy sanctions on Iran in February 2025 in an effort to eliminate the country’s chances of obtaining a nuclear weapon. National Security Presidential Memorandum 2 initiated a “robust and continual campaign” to “drive Iran’s export of oil to zero.” (RELATED: Americans May Be Stuck Paying Wartime Gas Prices Long After Iran Deal)
Since then, the Trump administration has enforced hundreds of additional sanctions on Iranian oil. OFAC announced its escalation of Operation Economic Fury on May 11, targeting 12 individuals and organizations for their involvement in shipping Iranian oil to China and increasing pressure on Iranian cover companies.
According to the Treasury’s press release, the U.S. blockade on Iran oil has “disrupted billions in projected oil revenue” and is “directly targeting the [Iranian] regime’s primary revenue stream.”
The U.S.-Iran blockade of the Strait of Hormuz has choked off around 20 percent of the world’s crude oil supply and caused major disruptions to the American economy. The national average gas price stands at $4.533 as of publication, according to the American Automobile Association.
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