U.S. revokes license allowing Iran to sell oil after tanker attacks in Strait of Hormuz

The U.S. Treasury Department revoked a general license that had authorized Iranian oil sales after a series of attacks on tankers in and near the Strait of Hormuz, the department said Tuesday, according to CNBC. The move ends a sanctions waiver that had been intended to support an interim understanding between Washington and Tehran to reopen the key shipping route, with the waiver previously allowing certain Iranian oil imports and payments to continue through Aug. 21.

The decision came after multiple vessels were struck in or near Hormuz on Tuesday, as reported by the U.S.-led Joint Maritime Information Center. The center, which issues security updates to merchant vessels crossing the region, said the threat to shipping had increased to “severe,” and it warned that hostile action was likely. CNBC reported that a liquefied natural gas tanker, an oil supertanker, and a third unspecified tanker were attacked in or near the strait.

U.S. officials linked the revocation to what they characterized as unacceptable Iranian actions against ships. In remarks cited by CNBC, a U.S. official said, “Iran will only reap benefits if they exhibit good behavior,” and added that “Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences.” The statement was used to justify the withdrawal of authorization for Iranian oil sales.

According to CNBC, Treasury had previously waived sanctions to allow the import of Iranian crude to the United States and to permit payments to Tehran in dollars, among other provisions. The waiver was tied to an interim deal reached “last month” as part of efforts to reopen Hormuz, and the administration had presented the arrangement as a practical step to keep major commercial traffic moving while laying the groundwork for further diplomacy.

Tehran, in the interim period, reportedly promised safe passage for ships using the corridor associated with the U.S. Navy protected route. But CNBC reported that Iran later insisted vessels must use a different northern route under Tehran’s control and attacked ships that used the U.S.-protected southern corridor along Oman's coast. In the same reporting, CNBC described the policy shift as part of a targeted campaign aimed at destabilizing the southern route.

The revocation raises immediate questions for U.S.-Iran energy transactions authorized under the prior license, because the authorization had been set to run through Aug. 21. With the license rescinded, U.S. policy officials indicated that the sanctions relief would no longer apply absent changes in Iranian conduct, while maritime authorities continued to warn of elevated risks for commercial shipping through Hormuz.

More broadly, the episode highlights the tight linkage between naval security in a chokepoint and the scope of sanctions compliance for energy exports. The Joint Maritime Information Center’s “severe” alert underscores that the U.S. approach to Iranian oil sales is being driven by near-term actions affecting ship safety, rather than by diplomatic timelines alone.