The US Treasury Department revoked a license that provided a temporary exemption from sanctions on Iranian oil. The move came after ship attacks in the strategic Strait of Hormuz.
The Treasury Department's Office of Foreign Assets Control (OFAC) revoked the 60-day general license issued on June 21. According to the decision, as of July 7, new transactions involving Iranian oil, petrochemicals, and petroleum products will no longer be permitted.
Attacks in the Strait of Hormuz
The United Kingdom Maritime Trade Operations (UKMTO) announced that three oil tankers passing through the Strait of Hormuz were targeted in the last 24 hours. The attacks caused minor damage to the tankers, it was reported. The countries to which the ships are registered were not disclosed.
The US-based Axios news site, however, claimed that the Iranian military attacked two commercial ships passing through the strait and that the ships sustained serious damage.
Tensions
The Strait of Hormuz has frequently been the scene of security tensions following the war launched by the US and Israel against Iran on February 28. Washington and Tehran signed a memorandum of understanding on June 18 through mediation by Pakistan and Qatar. The parties continue tough negotiations to reach a final agreement.
The revoked license had been issued after a temporary peace agreement and had allowed transactions until August 21.
