US Revokes Iran Oil Sanctions Waiver Agreed Under MOU After Tanker Attacks In Hormuz
US Revokes Iran Oil Sanctions Waiver Agreed Under MOU After Tanker Attacks In Hormuz Published By, Last Updated: July 08, 2026, 01:00 IST The move
US Revokes Iran Oil Sanctions Waiver Agreed Under MOU After Tanker Attacks In Hormuz Published By, Last Updated: July 08, 2026, 01:00 IST The move has raised fresh concerns over the future of the fragile understanding between Washington and Tehran aimed at ending the war in West Asia. A US official said Iran’s actions were "wholly unacceptable" and warned that they would have consequences. (Courtesy: Reuters) The US on Monday revoked a recently issued waiver that allowed the sale of Iranian oil under a memorandum of understanding (MOU) signed between Washington and Tehran last month, following a series of tanker attacks in the Strait of Hormuz. The waiver, announced in June, had originally allowed the Islamic Republic to produce, sell and deliver crude oil and related products until August 21.
According to a Reuters report, the US decision came after three tankers were struck within hours in the strategic waterway. A US official said Iran’s actions were “wholly unacceptable" and warned that they would have consequences. The move has raised fresh concerns over the future of the fragile understanding between Washington and Tehran aimed at ending the war in West Asia. Meanwhile, the US official said negotiations with Iran were still continuing in “good faith" despite the latest escalation. Tanker Attacks Trigger US Action The US move followed reports of three tankers being struck by unknown projectiles in and near the Strait of Hormuz. The UK Maritime Trade Operations (UKMTO), linked to the British Navy, said one tanker was hit overnight, causing a fire, while another vessel was reportedly struck by a drone.
One of the vessels targeted was Qatar’s LNG tanker Al-Rekayyat. Qatar condemned the incident and summoned Iran’s Deputy Ambassador to lodge a formal protest. Qatar’s Foreign Ministry spokesperson Majed Al Ansari said the targeting of the Qatari vessel was an “unacceptable attack" on maritime safety. He said Doha holds Iran responsible for the attack and any resulting damage. The string of attacks, after more than a week of calm, has revived concerns over freedom of navigation after Iran lifted its blockade of the vital waterway following a fragile ceasefire with the US. All three vessels were struck close to Oman. Oman had proposed a temporary transit corridor hugging its coastline in an initiative opposed by Iran, which wants to charge ships using the narrow waterway. (With inputs from agencies) News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit About the Author News Desk The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad.
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