The U.S. has launched ‘Operation Economic Fury’ aimed at disrupting Iran’s revenue streams, coinciding with the expiration of its oil waivers for Iranian oil. This operation signifies a heightened approach to economic warfare against Iran, potentially leading to severe financial sanctions as U.S. Treasury officials warn of economic consequences akin to military strikes. Meanwhile, the U.S. has also reinstated sanctions on Russian oil, affecting countries like India that previously benefited from waivers. The renewed pressure on both nations comes amidst rising global oil prices and regional tensions in the Middle East, prompting reactions from major players like China, who oppose the unilateral sanctions imposed by the U.S.