US Restores Sanctions on Iran Oil Sales Again
US Reimposes Iran Oil Sanctions After Maritime Security Dispute
WASHINGTON: (Web Desk) – The United States has reinstated restrictions on Iran’s oil exports, accusing Tehran of targeting commercial vessels in the Strait of Hormuz, according to international media reports.
The US had earlier allowed Iran to continue selling crude oil and petrochemical products until August 21 under a bilateral memorandum of understanding. However, the US Treasury Department has now reduced the duration of the exemption, bringing the restrictions back into effect from July 17.
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Iran has strongly rejected the decision, describing the renewed sanctions as a violation of the agreement between the two countries.
Iran’s Foreign Ministry said Tehran would take necessary steps to safeguard its national interests and security, while holding Washington responsible for what it called a breach of the understanding and its consequences.
The latest move follows a temporary arrangement announced last month that allowed Iran to continue limited oil and petrochemical exports under the same framework.
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