U.S. Revokes Iran Oil Waivers Following Attacks in Strait of Hormuz

The U.S. Department of Treasury announced on July 7, 2026, that the Trump administration has revoked temporary waivers that allowed Iran to sell oil. This decision comes in response to recent Iranian attacks on ships in the Strait of Hormuz. An Iranian Foreign Ministry spokesperson warned that commercial vessels using uncoordinated routes or tampering with tracking systems could face risks, disrupting Iran's efforts to ensure safe passage in the strait. A U.S. official stated that the revocation of the general license for Iranian oil sales is based on Iran's behavior, emphasizing that benefits under the memorandum of understanding (MOU) with Iran are contingent on good conduct. The Iranian Foreign Ministry asserted that Iran is fulfilling its commitments under the MOU and urged regional countries and shipping companies to avoid actions that contradict its provisions.