US revokes temporary sanctions waiver on Iranian oil

WASHINGTON: The US Treasury Department on Tuesday revoked a license that temporarily lifted oil sanctions on Iran, calling Tehran’s actions in the Strait of Hormuz “wholly unacceptable.” “Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences,” a US official told AFP, after attacks on tankers in the key waterway. The waiver announced in June had originally allowed the Islamic republic to produce, sell and deliver crude oil and related products through August 21.

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