Treasury Secretary Bessent announces GL U will not be renewed

Treasury Secretary Henry Bessent holds press conference announcing that General License U will expire as scheduled on April 19, 2026, and will not be renewed or extended. Bessent states the temporary waiver was "time-limited" and that "final enforcement returns April 20." The announcement locks in permanent cessation of legal Iranian oil exports to global markets. Oil traders immediately adjust positions. Brent crude rises above $95 per barrel.