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US revokes Iran oil sanctions waiver after Strait of Hormuz strikes

Politics The Hill By Rachel Frazin 07 Jul 2026 20:05 1 min read
US revokes Iran oil sanctions waiver after Strait of Hormuz strikes

The Trump administration on Tuesday revoked a sanctions waiver that had allowed the sale of Iranian oil and petrochemicals. The revocation comes after Iran reportedly struck three ships near the Strait of Hormuz, a key oil shipping waterway. The new document from the Treasury Department says that transactions that were authorized under its previous sanctions waiver would have to...

The Trump administration on Tuesday revoked a sanctions waiver that had allowed the sale of Iranian oil and petrochemicals. The revocation comes after Iran reportedly struck three ships near the Strait of Hormuz, a key oil shipping waterway. The new document from the Treasury Department says that transactions that were authorized under its previous sanctions waiver would have to...

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