The Treasury Department revoked a license allowing Iranian oil sales after multiple commercial vessels were attacked in or near the Strait of Hormuz.
By yourNEWS Media Newsroom
The United States has revoked authorization for Iran to sell oil after multiple commercial ships were attacked Tuesday in or near the Strait of Hormuz, according to a U.S. official.
The official told The Epoch Times that the Treasury Department’s Office of Foreign Assets Control is withdrawing a license that had allowed Tehran to produce, sell and deliver oil under a mid-June memorandum of understanding between the United States and Iran.
The agreement was designed to end hostilities, but the official said the authorization was tied to Iran’s conduct.
“The Office of Foreign Assets Control is revoking GL X, which authorized the sale of Iranian oil. As President [Donald] Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based,” the official stated.
The official said Iran would benefit from the memorandum only if it demonstrated “good behavior,” adding that the recent tanker attacks in the Strait of Hormuz required a U.S. response.
The Strait of Hormuz is one of the world’s most important maritime corridors, and attacks on commercial vessels in or near the waterway have raised new concerns over regional security and energy shipments.
The official said negotiations between Washington and Tehran are still continuing despite the U.S. decision to revoke the oil authorization.
Iran has not publicly responded to the move through state-run media or social media.
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