The US canceled the temporary waiver on oil sanctions against Iran. The decision came after recent tanker attacks in the Strait of Hormuz.
The Office of Foreign Assets Control (OFAC) of the US Treasury Department, with a decision published on Tuesday, revoked the 60-day general license issued on June 21. Accordingly, no new transactions related to Iranian oil will be allowed as of July 7.
The canceled license allowed the production, supply, and sale of Iranian crude oil, petrochemicals, and petroleum products. An earlier version had been issued after a temporary peace agreement and had allowed transactions until August 21.
Tanker attacks in the Strait of Hormuz
In the last 24 hours, the United Kingdom Maritime Trade Operations (UKMTO) reported that three oil tankers passing through the Strait of Hormuz were targeted. While it was stated that the tankers sustained minor damage in the attacks, the nationalities of the vessels were not disclosed.
The US-based news site Axios, however, claimed that the Iranian military attacked two commercial vessels passing through the strait and that the ships sustained serious damage.
War and diplomacy
The Strait of Hormuz has occasionally witnessed security tensions since the war launched by the US and Israel against Iran on February 28. Washington and Tehran signed a memorandum of understanding on June 18 with the mediation of Pakistan and Qatar. The parties are continuing tough negotiations to reach a final agreement.
