U.S. revokes Iran oil sales authorization after tanker attacks [View all]

Source: CNBC

Published Tue, Jul 7 2026 3:07 PM EDT Updated 6 Min Ago


The U.S. Treasury Department will revoke its authorization of Iranian oil sales after a series of attacks on tankers in the Strait of Hormuz this week.

A U.S. official told CNBC Tuesday that Treasury’s Office of Foreign Assets Control is revoking the license that allowed the production, delivery, and sale of Iranian oil through August 21.

The Trump administration waived U.S. sanctions on Iranian oil under the interim deal to reopen Hormuz. But Iran has launched a series of attacks on tankers transiting the strait, despite promising safe passage to commercial ships under the deal.

The U.S. official told CNBC the memorandum of understanding with Iran is entirely performance based. “Iran will only reap benefits if they exhibit good behavior,” the official said. “Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences.”

Read more: https://www.cnbc.com/2026/07/07/us-revokes-iran-oil-sanctions-waiver-tanker-attacks.html