The US Treasury Department has reportedly revoked the authorization for Iranian oil exports, following three attacks on oil tankers reported by the UKMTO in the past 48 hours. Global oil prices surged immediately after the announcement, according to the report.
The US Treasury Department has revoked the authorization for Iranian oil exports, according to a report, following three attacks on oil tankers in the past 48 hours reported by the UKMTO. Global oil prices surged on the news, as of 22:23 Jerusalem Tuesday. The move marks the latest US response to the Strait of Hormuz incidents, after a series of reports earlier this evening.
At 21:51 Jerusalem, a rapid sequence of reports emerged: initial reports from a single journalist (N12) indicated the US was taking a countermeasure; i24NEWS and Reuters then reported the revocation of sanctions relief; a US official confirmed to ynet the formal revocation of oil export licenses. Within minutes, the scope expanded: the US canceled the sanctions relief agreed under the bilateral memorandum of understanding, and subsequently informed Israel of its intention to strike Iran, as The Zioneer reported. The source base evolved from one channel to multiple newsrooms and an on-record official.
The Zioneer had previously reported on the background: the US-Iran MOU allowed Iranian oil exports, leading to a crash in oil prices on June 16. The Strait of Hormuz attacks, which Iran had threatened to close on June 11, triggered the US reversal. The Treasury action now formalizes the cancellation of the export authorization.
Remaining open: the exact number of vessels attacked. Earlier reports referred to four vessels, while the latest UKMTO report cited three attacks. It is unclear whether the Treasury revocation is a separate step from the previously reported sanctions relief cancellation, or a confirmation of the same action.
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