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.

The United States revoked a temporary sanctions waiver for Iranian oil Tuesday after three tankers were struck in the Strait of Hormuz, raising pressure on Tehran as it negotiates…

The United States has revoked a sanctions waiver that authorized the sale of Iranian oil because of its repeated attacks on tankers in the Strait of Hormuz

US revokes Iran oil waivers after attacks in the Strait of Hormuz. WTI reaching $110 in July 2026 at 0.7% YES.