The US Treasury revokes a licence that authorises the sale of Iranian oil to the United States, according to a statement from the Office of Foreign Assets Control. The department says that, effective July 7, 2026, General License X (dated June 21, 2026) is revoked and replaced by General License X1. The revocation follows a partial easing of sanctions on Iranian oil exports earlier, after the US described talks related to efforts to end the war. In June, the Treasury also issued a 60-day sanctions waiver that allows oil production, delivery and sales under the licensing arrangement.
Several outlets link the decision to reported attacks involving tankers in and near the Strait of Hormuz. Multiple sources say three tankers are hit by projectiles during a recent period, and one report attributes the warnings to British military statements. Reuters, citing unnamed US officials, says Iran’s actions in the Strait are “wholly unacceptable” and that the US will respond with consequences. The reported attacks are described as occurring within the last 24 hours.
