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Large commercial vessels and a small boat navigate the waters off the southern port city of Bandar Abbas, Iran, in June. Photo: Hassan Ghaedi/Anadolu via Getty Images
The Trump administration on Tuesday revoked the temporary waivers it issued as part of the memorandum of understanding (MOU) with Iran that allowed Tehran to sell oil, the Department of Treasury announced.
Why it matters: The revocation of the waivers that was issued less than three weeks ago is in response to the renewed Iranian attacks against ships in the Strait of Hormuz over the past 24 hours.
