US Reinstates Sanctions on Iranian Oil Following Strait of Hormuz Attacks

The US Treasury Department announced it will revoke the waiver allowing Iran to produce and sell oil, a permit initially granted on June 22. This decision follows a series of attacks on oil tankers in the strategic Strait of Hormuz. A senior US official condemned Iran's actions in the vital shipping route as "completely unacceptable" and warned Tehran would face consequences. Despite the escalation, the official noted that mediators are still working toward a final deal.

Earlier on Tuesday, Iran's Revolutionary Guards fired missiles at two commercial vessels near the Omani side of the Strait of Hormuz. Iranian state media confirmed at least one tanker carrying liquefied gas was targeted, accusing it of ignoring warnings. US reports indicated at least one ship was hit. Iranian Foreign Minister Abbas Araghchi stated that ongoing threats prevent the start of final agreement negotiations, urging respect for signed commitments.

Iranian parliamentary speaker Mohammad Baqer Qalibaf vowed punishment for those responsible for the killing of Ali Khamenei and linked the final phase of retaliation to "the liberation of Jerusalem." The secretary of Iran's Supreme National Security Council responded to US President Donald Trump's recent threats by demanding respectful dialogue or else a different response would follow.

President Trump, speaking from the White House, reiterated his preference for a deal but warned of severe consequences if Iran continued its provocations. He claimed the US had destroyed Iran's naval capabilities, including 159 ships and radar systems, and imposed a blockade that halted all ship movements for two months. Trump also threatened to disable Iran's energy infrastructure swiftly, emphasizing that Iran no longer has financial resources due to US sanctions.

The developments underscore heightened tensions between Washington and Tehran amid ongoing nuclear negotiations and regional security concerns.