U.S. Rescinds Iran Oil Waiver Following Recent Strait of Hormuz Tanker Incidents

The United States has withdrawn a temporary sanctions exemption that had permitted Iran to export oil through mid‑August, after three of its vessels were attacked in the Strait of Hormuz.

On Tuesday, the U.S. Treasury Department announced the cancellation of a license originally issued in June that allowed Iran to produce, sell, and transport crude oil and related products until August 21.

“Iran’s conduct in the Strait was wholly unacceptable to the United States and will be met with consequences,” a U.S. official told AFP.

The official, speaking on condition of anonymity, described the U.S.–Iran memorandum of understanding as “entirely performance‑based,” warning that Tehran would receive benefits only if it demonstrated “good behavior.”

Nevertheless, U.S. negotiators continue to engage “in good faith toward a final agreement,” the official added.

The British maritime security agency UKMTO reported an “unknown projectile” struck a tanker overnight, igniting a fire, before two additional ships were hit, one of them by a drone.

All three incidents occurred near Oman, which had proposed a temporary transit corridor along its coastline — a plan opposed by Iran as it seeks to impose fees on vessels traversing the narrow waterway.

Qatar identified one of the vessels as its LNG tanker Al‑Rekayyat and blamed Iran, condemning the attack as “unacceptable” to international maritime navigation.

Doha subsequently summoned Iran’s deputy ambassador to lodge a formal complaint, demanding an explanation and urging Tehran to “immediately cease any practices undermining regional security.”

“We hold Iran fully legally responsible for this attack and for any resulting damages or repercussions,” Qatar’s foreign ministry spokesperson Majed Al Ansari wrote on X.

Iran expressed “dismay” over Qatar’s accusations in a statement carried by state news agency IRNA, calling the claims “unacceptable.”

Hormuz Dispute

The attacks, which ended more than a week of relative calm, have revived concerns about freedom of navigation after Iran lifted its blockade of the vital waterway following a fragile ceasefire with the United States.

Oil prices climbed more than two percent as the renewed attacks reignited worries over global energy supplies and cast doubt on the durability of the U.S.–Iran agreement.

“We are now in a sensitive period where potential alternatives to an Iranian toll or fee system are being explored,” Andreas Krieg, a security expert at King’s College London, told AFP.

“Iran is sending a clear signal that no alternative will be accepted,” Krieg added.

He warned that tankers attempting to use the Omani maritime corridor without registering with Iran would face punishment, describing the attacks as a “clear violation” of the ceasefire agreement and international law.

Maritime traffic had tentatively resumed after Washington and Tehran signed the memorandum last month, but Iran has insisted there will be no return to pre‑war arrangements under which vessels could pass freely through the strait.

Under the 14‑point U.S.–Iran memorandum, Iran and Oman, which border Hormuz, must hold talks “to define the future administration and maritime services” in the waterway with other Gulf states.

Qatar had previously refused to mediate under Iranian fire as Tehran launched an unprecedented aerial bombardment against Gulf states in retaliation for U.S.–Israeli strikes.

But Doha has since taken a more active role, hosting indirect talks between Iran and the United States last week.

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