US revokes sanctions relief on Iranian oil after tanker attacks in Strait of Hormuz

Washington DC [US], July 8 (ANI): The United States has revoked a general licence that authorised the sale of Iranian oil, saying Tehran's actions in the Strait of Hormuz were "wholly unacceptable" and would have consequences following recent attacks on commercial tankers, The Times of Israel reported.
According to The Times of Israel, the decision came after three tankers reported being struck by unidentified projectiles in and near the Strait of Hormuz in recent days, citing a report by the UK Maritime Trade Operations (UKMTO). There was no immediate response from Tehran or any claim of responsibility.
"As President Trump and the administration have repeatedly affirmed, the memorandum in effect with Iran is entirely performance-based. Iran will only reap benefits if they exhibit good behavior," The Times of Israel reported, citing a US official's statement.
"Iran's actions in the strait were wholly unacceptable to the United States and will be met with consequences. Our negotiators continue to work in good faith towards a final deal," the official added.
According to The Times of Israel, the attacks and the US response have raised concerns over the future of the diplomatic understanding between Washington and Tehran, with fears that further escalation could disrupt negotiations on a broader agreement.
The report said both sides had been working towards a deal that included limits on Iran's nuclear programme and sanctions relief, including easing restrictions on Iranian oil exports.
The US Treasury Department had on June 21 lifted previous sanctions to allow the production, delivery and sale of Iranian crude oil and petrochemical and petroleum products through August 21 after the United States and Iran signed a Memorandum of Understanding (MoU), The Times of Israel reported. (ANI)