US revokes temporary sanctions waiver on Iranian oil after vessels attacked in Hormuz

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The US Treasury Department revoked a temporary sanctions waiver on Iranian oil following attacks on vessels in the Strait of Hormuz, condemning Tehran's actions as unacceptable and indicating consequences will follow. The sanctions waiver had allowed Iran to produce and export crude oil despite restrictions.

The US Treasury Department on Tuesday revoked a licence 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 Agence France-Presse, 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...