The Donald Trump administration on Tuesday revoked, with immediate effect, a sanctions’ waiver that had allowed the purchase of Iranian oil without attracting US penalties, saying its ceasefire agreement with Iran was “entirely performance-based” and that Tehran had failed to uphold its commitments after attacks on commercial vessels in the Strait of Hormuz prompted fresh American military strikes.
“As President Trump and the administration have repeatedly affirmed, the MoU in effect with Iran is entirely performance-based. Iran will only reap benefits if they exhibit good behavior,” a US official said.
“Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences. Our negotiators continue to work in good faith towards a final deal,” the official added.
The general licence, issued in late June and originally valid until August 21, had temporarily allowed the purchase of Iranian energy without triggering US sanctions.
The announcement came hours after US Central Command said it had begun “a series of powerful strikes” against Iran in retaliation for attacks on three commercial vessels transiting the Strait of Hormuz, calling Tehran’s actions “unwarranted”, “dangerous” and “a clear violation of the ceasefire”.
“US Central Command forces have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway,” the command said in a post on X.
One of the vessels targeted was the Qatari ship Al-Rekayyat, which was reportedly carrying energy shipments to India.
The waiver’s withdrawal could have implications for countries such as India, which was among the largest buyers of Iranian crude before US sanctions were imposed. Iranian oil accounted for around 10.5% of India’s crude imports in 2018, with refiners benefiting from favourable
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