Washington Reinstates Iranian Oil Sanctions After Hormuz Attacks

SadaNews - The U.S. Treasury Department has revoked a license that temporarily allowed the lifting of sanctions imposed on Iranian oil, following attacks targeting oil and gas tankers in the Strait of Hormuz.

An American official stated, "Iran's actions in the strait are completely unacceptable to the United States and will have serious consequences."

The license, which was issued last June as part of a temporary understanding to end hostilities between Washington and Tehran, allowed Iran to produce, sell, and supply crude oil and its derivatives until August 21.

The decision came just hours after three tankers, including a Qatari liquefied natural gas tanker, were attacked in the Strait of Hormuz, according to maritime monitoring sources and Qatar.

The attacks have reignited concerns about freedom of navigation in the Strait of Hormuz, the main route for Gulf energy exports, after Iran lifted a blockade it had imposed following a memorandum of understanding with the United States that established a fragile truce.

The American official emphasized that the memorandum of understanding between the United States and Iran "is entirely performance-based," warning that Tehran would not reap any benefits unless it demonstrated "good behavior."

However, he also stressed that American negotiators "continue to work in good faith to reach a final agreement."