Energy

The Trump administration’s emerging post-war framework with Iran grants Tehran immediate sanctions relief for oil sales upon the agreement’s signing, with accompanying waivers covering banking, transportation, and insurance services needed to complete those transactions.

The United States on Thursday sanctioned Union Cuba-Petroleo, Cuba’s state-owned oil and gas company, escalating the Trump administration’s pressure campaign against Havana under an executive order issued last month.

The House voted Wednesday to take up legislation that would impose sweeping new sanctions on Russia and provide additional aid to Ukraine, as six Republicans and an independent broke with party leaders to join Democrats in forcing the measure to the floor.

Swiss prosecutors raided the Geneva offices of commodity trader Gunvor as part of a criminal investigation into suspected bribery of foreign public officials, dealing a fresh blow to the company’s efforts to rehabilitate its reputation following a series of prior corruption convictions.

A Houston-based petroleum trader raided last month by U.S. federal agents is under investigation in Mexico in connection with a suspected fuel smuggling scheme linked to the Jalisco New Generation Cartel (CJNG).

The U.S. Commodity Futures Trading Commission is investigating a surge of more than $800 million in oil futures trades that occurred moments before President Trump announced on social media that he was postponing strikes on Tehran’s energy infrastructure.

Britain issued a new sanctions waiver on Tuesday allowing the import of certain diesel and jet fuel processed in third countries from Russian-origin oil, even as the United States separately tightened sanctions on networks it accused of supporting Hamas and helping Iran move oil and petrochemical revenue.

Iran has launched a bitcoin-backed insurance service for shipping companies seeking to transit the Strait of Hormuz.

Alex Saab, the businessman widely seen as the financial fixer for ousted Venezuelan President Nicolás Maduro, was charged with money laundering in federal court in Miami on Monday.

Indian conglomerate Adani Enterprises Ltd. has agreed to pay $275 million to settle U.S. allegations that it imported Iranian liquefied petroleum gas through a Dubai-based middleman while routing dollar payments through American banks, OFAC disclosed on Monday.