Commercial vessels and oil tankers preparing to transit through the Strait of Hormuz, one of the most critical strategic waterways for global trade flows, maintain their wait in the Gulf of Oman, on June 17, 2026.
Shady Alassar | Anadolu | Getty Images
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.
The Office of Foreign Assets Control is revoking the license that allowed the production, delivery, and sale of Iranian oil through August 21, a U.S. official told CNBC Tuesday.
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 this week, despite promising safe passages to commercial ships under the deal.
“As President Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based,” the U.S. official said.
“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.”
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