US Ends Waiver Allowing Iraq to Pay Iran for Electricity; Iran Faces Economic Pressure Amid Oil Export Threats

The U.S. government has rescinded a waiver that previously allowed Iraq to pay Iran for electricity. This action is part of the Trump administration's "maximum pressure" campaign against Tehran, according to a State Department spokesperson. Iraqi energy officials have stated that Iraq lacks immediate alternatives to compensate for the energy imported from Iran, potentially leading to significant electricity supply problems, especially during the summer months. This development occurs as the U.S. Treasury Secretary announced aggressive sanctions against Iran, aiming to drastically reduce Iran's oil exports. The U.S. aims to cut Iran's oil exports of 1.5 million barrels per day to a minimal amount. Iran is a major Brent crude oil exporter and a member of the BRICS+ bloc.