US Revokes Authorization for Iran to Sell Oil After Tanker Attacks

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Several commercial ships were attacked in or near the Strait of Hormuz on Tuesday.

Vessels are seen anchored in Bandar Abbas along the Strait of Hormuz in this picture obtained from Iran's ISNA news agency on June 18, 2026.

The United States revoked its authorization for Iran to sell oil after multiple tankers were attacked in the Strait of Hormuz on Tuesday, said a U.S. official.

The official told The Epoch Times on Tuesday that the U.S. Treasury Department’s Office of Foreign Assets Control, the financial enforcement and sanctions arm of the agency, is revoking a license that allowed Tehran to produce, sell, and deliver oil under a memorandum of understanding (MOU) that was signed by Iran and the United States in mid-June to end hostilities.

“The Office of Foreign Assets Control is revoking GL X, which authorized the sale of Iranian oil. As President [Donald] Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based,” the official stated.

The Iranian regime will benefit from the memorandum if it exercises “good behavior,” and recent attacks in the strait have to be met with a U.S. response, the official said.

Negotiations between Washington and Tehran are still ongoing, according to the official. Iran has not publicly responded to the U.S. decision to suspend the authorization through state-run media outlets or social media.

https://www.theepochtimes.com/world/us-revokes-authorization-for-iran-to-sell-oil-after-tanker-attacks-6058628?src_src=RTNews&src_cmp=rtbreaking-2026-07-07-2&est=4oq5t048tvzH2MYuPCPIp0Q5JvOm5Y0%2FgIqUmPUBdYG7r8ULR818pgWvNOkq02NocZS1BA5r