US Revokes Iran Oil Waiver Days After Granting
The US Treasury revoked the general license for Iranian crude oil sales on Tuesday, ending sanctions relief that lasted only 19 days. The decision followed reported strikes on three oil tankers in the Strait of Hormuz.
USOIL
The U.S. Treasury Department has revoked the general license that authorized Iranian crude oil sales, just 19 days after it was granted. The move marks the shortest-lived sanctions relief during the current ceasefire period.
The revocation on Tuesday came hours after reports emerged that three oil tankers were struck in the Strait of Hormuz. The abrupt reversal tightens pressure on Iranian oil exports and removes the temporary waiver that had briefly eased restrictions.
Source: FXStreet Forex News