According to reports from The New York Times and Reuters, after three oil tankers were attacked in the Strait of Hormuz, the Trump administration revoked an exemption that allowed the sale of Iranian oil on July 7 local time.
As part of the framework for negotiations between the United States and Iran, the U.S. Department of the Treasury issued a 60-day general license last month, allowing Iran to produce, sell, and deliver oil.
The New York Times states that this move marks a significant change in the United States' policy towards Iran. For decades, Iranian oil has been subject to strict sanctions by the United States. If this exemption becomes permanent, Iran could reshape its economy through the open sale of its oil in the global market.
The British Maritime Trade Operations Office announced earlier on the 7th that another oil tanker was attacked by drones while passing through the Strait of Hormuz that day. This is the third incident of a ship being attacked in this area within 24 hours.
The US side accused Iran of attacking these ships. While lifting sanctions on Iranian oil, the US Central Command stated on the 7th that it has begun carrying out 'a series of forceful strikes' against Iran, aiming to make Iran pay a heavy price for its actions.
An American official told Reuters that the targets of this operation are Iran’s air defense systems, coastal surveillance systems, surface-to-air missiles, anti-ship cruise missiles, and drone launch sites.
According to Iranian media reports early on the 7th local time, explosions occurred in the southern Iranian port city of Shirak, the island of Ghasem, and Bandar Abbas. The reports stated that the attacks hit a commercial dock in Shirak, as well as fishing docks in Shirak and Bandar Abbas.
On the 7th, an American official stated that Iran’s actions in the Strait of Hormuz are unacceptable to the United States, and consequences will follow. The official added that only if Iran shows “good behavior” can it benefit from the peace negotiations, and talks towards a final agreement can continue.
After Washington re-imposed sanctions on Iranian oil, WTI crude oil prices surged by more than 3%, reaching $72.65 per barrel.
In the early hours of the 8th local time, the Iranian Ministry of Foreign Affairs issued a statement condemning the US for canceling its temporary measure to suspend the sale of Iranian oil. The ministry stated that this action violated the Islamabad Memorandum of Understanding between Iran and the US, and the US should bear responsibility for the consequences.
