US revokes sanctions relief on Iranian oil after tanker attacks in Strait of Hormuz
Washington DC, July 8
The United States has revoked a general licence that authorised the sale of Iranian oil, saying Tehran's actions in the Strait of Hormuz were "wholly unacceptable" and would have consequences following recent attacks on commercial tankers, The Times of Israel reported.
According to The Times of Israel, the decision came after three tankers reported being struck by unidentified projectiles in and near the Strait of Hormuz in recent days, citing a report by the UK Maritime Trade Operations (UKMTO). There was no immediate response from Tehran or any claim of responsibility.
"As President Trump and the administration have repeatedly affirmed, the memorandum in effect with Iran is entirely performance-based. Iran will only reap benefits if they exhibit good behavior," The Times of Israel reported, citing a US official's statement.
"Iran's actions in the strait were wholly unacceptable to the United States and will be met with consequences. Our negotiators continue to work in good faith towards a final deal," the official added.
According to The Times of Israel, the attacks and the US response have raised concerns over the future of the diplomatic understanding between Washington and Tehran, with fears that further escalation could disrupt negotiations on a broader agreement.
The report said both sides had been working towards a deal that included limits on Iran's nuclear programme and sanctions relief, including easing restrictions on Iranian oil exports.
The US Treasury Department had on June 21 lifted previous sanctions to allow the production, delivery and sale of Iranian crude oil and petrochemical and petroleum products through August 21 after the United States and Iran signed a Memorandum of Understanding (MoU), The Times of Israel reported.
— ANI
Reader Comments
This is getting messy. Strait of Hormuz is so important for global oil supply, and India imports a lot from there. If this escalates, our petrol prices will skyrocket again! 😢 The government needs to secure alternative sources fast.
The US keeps saying "Iran's actions are unacceptable," but what about their own actions? They pulled out of JCPOA, imposed maximum pressure, and now expect Iran to just behave nicely? This cycle of sanctions and threats never leads to peace. Diplomacy needs consistency, not ultimatums.
As an Indian, I'm worried about the impact on our economy. Iran used to be a major oil supplier before sanctions. Now this uncertainty is killing. 😕 PM Modi should use his diplomatic skills to ensure our energy interests are protected, whether it means talking to US or Iran.
Sadly, this proves that US foreign policy is driven by politics, not principles. They want to control Iran's oil, but when it suits them, they loosen up, then when they feel threatened, they tighten again. India must invest in renewable energy at warp speed. Petrol dependency is a national security risk.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.