U.S. Treasury Secretary Scott Bessent announced that the United States will not renew a waiver allowing the purchase of Russian oil and petroleum products currently at sea. This decision comes amid heightened global tensions due to the ongoing U.S.-Israeli conflict in Iran and the impact of the closure of the Strait of Hormuz on energy markets. The original waiver was issued in March to help stabilize energy prices, which had surged above $100 per barrel. In a separate development, Anna Maria College in Paxton, Massachusetts, will close at the end of the semester after an exhaustive review of its finances. The college cited declining enrollment and rising costs as significant factors contributing to its decision, which follows a similar closure announcement from Hampshire College earlier this month. Board Chair David Trainor expressed heartbreak over the decision, emphasizing the enduring legacy of the institution and its founders.