US revokes Iranian oil sanctions waivers after Strait of Hormuz attacks

The United States has revoked a sanctions waiver that authorized the sale of Iranian oil because of its repeated attacks on tankers in the Strait of Hormuz, a US official said.

“As President Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based,” the official said. “Iran will only reap benefits if they exhibit good behavior.”

The official added that Iran’s attacks in the Strait were “wholly unacceptable” to Washington and “will be met with consequences.”

Meanwhile, the US negotiators continue to work in good faith towards a final deal, according to the official.