U.S. revokes Iran oil sales authorization after tanker attacks
Iranian oil sales face new U.S. Treasury restrictions after Strait of Hormuz attacks See why the move raises pressure on shipping lanes and global energy markets
The U.S. Treasury Department has revoked authorization for Iranian oil sales after a series of tanker attacks in the Strait of Hormuz, according to a U.S. official cited by CNBC on Tuesday.
The Office of Foreign Assets Control is ending a license that had allowed the production, delivery, and sale of Iranian oil through Aug. 21. The official said the decision reflects the administration’s view that the arrangement is performancebased and that Iran must show “good behavior” to receive benefits.
The move adds pressure after the attacks in one of the world’s most important shipping lanes, where energy and commercial traffic are closely watched for signs of broader disruption.