US Ends Iran Oil Waiver After Tankers Struck in Strait of Hormuz

The United States revoked a temporary sanctions waiver for Iranian oil after three tankers were attacked near the Strait of Hormuz. The waiver had allowed Iran to export crude and petroleum products through August 21. A US official told AFP the strikes in the strait were unacceptable. Negotiators remain at the table but say any rewards depend on Iran’s behaviour. The attacks hit a Qatari LNG carrier and two other vessels off Oman’s coast. Evidence points to projectile and drone strikes. Qatar summoned Iran’s deputy ambassador and blamed Tehran for risking regional stability. The incidents shattered a fragile truce and pushed global crude prices up more than two percent. Security experts say Iran is resisting any bypass of its oversight in the waterway. Gulf states are expected to agree on new transit rules under a US-Iran memorandum of understanding.

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