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US revokes Iran oil waiver after tanker attacks in Strait of Hormuz escalate tensions.<\/p>\n
Key points<\/p>\n
\u2022 US revokes oil waiver<\/p>\n
The US Treasury revoked a temporary sanctions waiver allowing Iran to export crude oil, replacing it with a stricter licence that bars new purchases from July 7.<\/p>\n
\u2022 Iran condemns decision<\/p>\n
Iran called the revocation a ‘clear and material breach’ of the June 18 Islamabad Memorandum of Understanding, holding the US fully responsible for consequences.<\/p>\n
\u2022 Tanker attacks escalate<\/p>\n
Three tankers were struck in the Strait of Hormuz, reviving concerns over freedom of navigation and prompting US threats of consequences for Iran’s actions.<\/p>\n
\u2022 US-Iran negotiations ongoing<\/p>\n
Despite tensions, US officials stated negotiations continue ‘in good faith’ towards a final deal, contingent on Iran’s ‘good behaviour’.<\/p>\n
\u2022 New licence terms<\/p>\n
Companies have until July 17 to wind down transactions under the previous waiver, with payments to blocked persons requiring US-based blocked accounts.<\/p>\n
Key statistics<\/p>\n
June 18, 2026<\/p>\n
Date of Islamabad Memorandum of Understanding<\/p>\n
Processed with AI. Reviewed by DH Digital Team.<\/p>\n
Statement by the Ministry of Foreign Affairs of the Islamic Republic of Iran on the United States’ Explicit Violation of Article 10 of the Islamabad Memorandum of Understanding
July 8, 2026
(Unofficial Translation)<\/p>\n
The Ministry of Foreign Affairs of the Islamic Republic of Iran\u2026 pic.twitter.com\/IaON7Cv65K<\/a><\/p>\n \u2014 Iran in India (@Iran_in_India) July 7, 2026<\/a><\/p>\n Published 08 July 2026, 03:23 IST<\/p>\n