U.S. hits Iran, revokes waiver after tankers attacked in Strait of Hormuz

U.S. Treasury Department cancels licence allowing Iran to produce, sell and deliver crude, oil-related products

Published Jul 07, 2026  •  2 minute read

Oil tankers and cargo vessels are anchored off the coast of Oman. Photo by Getty Images

The U.S. revoked a temporary waiver on Iran oil sanctions Tuesday after three tankers were struck in the Strait of Hormuz, while Tehran negotiates with Washington over ending the war.

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The U.S. Treasury Department cancelled a licence that allowed Iran to produce, sell and deliver crude and oil-related products through to Aug. 21.

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An American official speaking to AFP on condition of anonymity said: “Iran’s actions in the strait were wholly unacceptable to the United States and will be met with consequences.”

They said the U.S.-Iran memorandum of understanding was “entirely performance based” and that Tehran would only see benefits if it showed “good behaviour,” but added U.S. negotiators were continuing to try to hammer out a deal. 

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Ships struck 

British maritime security agency UKMTO said an “unknown projectile” hit a tanker, causing a fire. Two more ships were struck, one likely by a drone. All the vessels were struck near Oman, which proposed a temporary transit corridor hugging the coastline — something that Iran opposes because it wants to impose fees on ships using the waterway.

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Qatar said one of its vessels was hit and blamed Iran, calling the attack “unacceptable.” Qatar also summoned Iran’s deputy ambassador to lodge a complaint, demand an explanation and urge Tehran to “immediately cease any practices undermining regional security.

“We hold Iran fully legally responsible for this attack and for any resulting damages or repercussions,” Qatar’s Foreign Ministry spokesman Majed Al Ansari wrote on X.

Iran called Qatar’s accusations “unacceptable,” according to its state new agency.

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Fragile situation

The attacks ended a calm week. Oil prices rose by more than 2% as the new attacks renewed worries over global energy supplies and the outcome of the U.S.-Iran agreement.

“We are now in a sensitive period where potential alternatives to an Iranian toll or fee system are being explored,” Andreas Krieg, a security expert at King’s College London, told AFP. “Iran is sending a clear signal that no alternative will be accepted.”

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