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US Cancels Iran Oil Waiver Following Strait of Hormuz Tanker Attacks

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The United States Treasury Department has revoked a sanctions waiver previously granted to Iran for oil trade. The license, which had been announced in June, had permitted Iran to produce, sell, and deliver crude oil and related petroleum products. The waiver had been set to remain in effect until August 21. The cancellation comes in response to tanker attacks that occurred in the Strait of Hormuz, a critical global oil shipping route.

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