The United States on Tuesday revoked a sanctions waiver that had permitted the sale of Iranian oil, according to the Treasury Department, hours after three tankers were struck by projectiles in the Strait of Hormuz. The license, issued last month as part of an interim agreement to halt fighting between the US and Iran, had eased restrictions on Iranian oil exports for 60 days.
License Revocation
A US official stated that the license was revoked because Iran's actions in the strait were "unacceptable and needed to be met with consequences." The Iranian foreign ministry condemned Washington's move, saying in a statement that it violates the interim deal and that "the US government bears responsibility for the consequences of this breach of commitment."
Tanker Attacks
The revocation came after the British military reported three tankers were struck by projectiles in the Strait of Hormuz on Tuesday. According to figures from the UN's International Maritime Organization, this marked the highest number of attacks in a single day since late April. The incidents threatened to disrupt traffic through the strategic waterway just as countries sought to restore normal shipping.
| Vessel | Impact | Source |
|---|---|---|
| Liquefied natural gas tanker | Caught fire off the coast of Oman | UKMTO, Iranian state TV |
| Other two tankers | Minor damage, continued voyages, no injuries | UKMTO |
According to the United Kingdom Maritime Trade Operations (UKMTO), one tanker caught fire after being struck off the coast of Oman. Iranian state television reported that the liquefied natural gas tanker came under attack after ignoring warnings but stopped short of claiming responsibility. The other two vessels sustained minor damage but were able to continue their voyages, with no injuries reported.
Route Disputes
Tehran has repeatedly maintained that only its designated route through the Strait of Hormuz is safe and has previously been suspected of attacking ships that used an alternative route closer to Oman's coastline. Location data released by UKMTO indicated that all three attacks occurred off the coast of Oman or the neighbouring United Arab Emirates, suggesting the vessels had been using that route.
Implications for Trade
For importers, exporters, and trade policy professionals, the revocation of the sanctions waiver immediately removes the legal basis for purchasing Iranian oil under the interim agreement. The simultaneous attacks on tankers heighten risks for vessels transiting the Strait of Hormuz, potentially raising insurance premiums and freight costs. Customs brokers should verify that any Iranian oil shipments are not covered by the now-revoked license, as enforcement actions may follow.
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