The United States has revoked oil sanctions waivers previously granted to Iran, a key concession under a recent memorandum of understanding, following a series of attacks on commercial vessels in the Strait of Hormuz. A U.S. official confirmed that three commercial vessels were struck by Iran between Monday and Tuesday.
These attacks occurred shortly after President Donald Trump had stated the U.S. was granting Tehran "a week off" during funeral ceremonies for Supreme Leader Ali Khamenei. The U.S. official emphasized that the memorandum of understanding (MOU) with Iran is "performance-based" and that Iran would only receive benefits for "good behavior."
"Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences," the official stated, confirming that the Treasury Department's Office of Foreign Assets Control (OFAC) would revoke the sanctions waivers. "Our negotiators continue to work in good faith towards a final deal."
The sanctions relief was part of a June agreement that initiated a 60-day negotiation period between Washington and Tehran. Under this framework, both sides had agreed to halt military operations while pursuing a broader peace agreement. Iran had committed to reopening the Strait of Hormuz to commercial shipping in exchange for limited economic relief, including the oil sanctions waivers.
The targeted vessels were transiting the Strait of Hormuz, a critical global maritime choke point. British maritime authorities confirmed one vessel was struck by a projectile near the coast of Oman on Monday. Iranian state media reported that ship had ignored warnings from Iranian forces and that the attack caused a fire onboard. On Tuesday, the U.K. Maritime Trade Operations (UKMTO) reported another tanker transiting the strait was struck by an unidentified projectile, sustaining what was believed to be structural damage without casualties or environmental impact.
Earlier attacks on Monday reportedly included the Al Rekayyat, a Qatari liquefied natural gas carrier, and the Saudi-flagged crude tanker Wedyan. Iran acknowledged the attack on the Al Rekayyat, stating the tanker ignored "repeated warnings." The U.S. official confirmed damage to the Wedyan, though the cause was not immediately clear.
These renewed attacks cast doubt on the Trump administration's diplomatic strategy. Negotiations had been paused while Iran observed funeral ceremonies for Supreme Leader Ali Khamenei. President Trump had stated that Iran was "dying to settle" and that the U.S. had given Tehran "a week off for a funeral because we're nice."
The attacks threaten one of the world's most important energy corridors, as roughly one-fifth of the world's seaborne oil passes through the Strait of Hormuz. Disruptions to commercial shipping in this region pose a potential risk to global energy markets and U.S. strategic interests.
Iran has expressed a desire to play a leading role in managing traffic through the Strait of Hormuz and has sought to collect fees from commercial vessels. The Trump administration has maintained that the strait must remain open to free international navigation.
Prior to the recent attacks, commercial traffic through the Strait of Hormuz had begun to recover following a U.S.-Iran ceasefire. However, the situation remains volatile, with daily traffic stabilization reported at significantly lower levels compared to the period before increased geopolitical tensions.