The United States has revoked oil sanctions waivers previously offered to Iran after recent attacks on commercial vessels in the Strait of Hormuz. A U.S. official confirmed that three commercial vessels were struck by Iranian forces between Monday and Tuesday, escalating tensions in the region. The attacks occurred shortly after President Donald Trump indicated a temporary pause in negotiations with Iran during the funeral ceremonies for the late Supreme Leader Ali Khamenei.
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced that the sanctions waivers would be rescinded, emphasizing that Iran's benefits under the memorandum of understanding (MOU) are contingent upon its behavior. The MOU, signed in June, initiated a 60-day negotiating period aimed at establishing a broader peace agreement, with both sides agreeing to halt military operations and Iran committing to reopen the Strait of Hormuz to commercial shipping in exchange for limited economic relief.
The recent attacks targeted vessels in a critical maritime route, with British maritime authorities confirming a projectile strike on a ship near Oman. Another tanker was also reported to have sustained damage from an unidentified projectile. No casualties have been reported, but the incidents have raised concerns about the security of one of the world's busiest shipping lanes, through which approximately one-fifth of global seaborne oil is transported.
The U.S. official stated that Iran's actions were unacceptable and would have consequences, while negotiators continue to work towards a final deal. The attacks have prompted questions about the viability of the ceasefire and the ongoing diplomatic efforts between the U.S. and Iran. Iran has previously asserted its desire to manage traffic through the Strait of Hormuz and warned that vessels using unauthorized routes would face a strong response. The situation remains fluid as both sides navigate the complexities of their negotiations and military posturing.