NEW YORK, July 7 (Xinhua) -- The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Tuesday revoked a license that had authorized the sale of Iranian-origin oil until Aug. 21.
A new general license, titled "Revocation and Wind Down of June 21, 2026 Authorization for the Production, Delivery and Sale of Crude Oil, Petrochemical Products, and Petroleum Products of Iranian Origin," signed by OFAC Director Bradley Smith, became effective on Tuesday.
The new license requires that transactions authorized under the previous sanctions waiver wind down by July 17.
The U.S. side said the decision came after Iran's attack on three oil tankers near or in the Strait of Hormuz.
While revoking the waiver, the U.S. military announced Tuesday that it launched a series of powerful strikes against Iran in response to alleged attacks by Tehran on three commercial vessels.
The United States had waived sanctions on Iranian oil after the two parties signed a ceasefire memorandum of understanding in June. The waiver had allowed the import of Iranian crude to the United States and payment to Tehran in U.S. dollars, among other provisions. ■
