Trump Administration Revokes Waivers Allowing Iran to Sell Oil, Treasury Says

According to Axios, the Trump administration on Tuesday revoked temporary waivers tied to a memorandum of understanding (MOU) with Iran that had allowed Tehran to sell oil, the U.S. Treasury Department said. Axios reported the waivers were issued less than three weeks ago and were pulled after renewed Iranian attacks against ships in the Strait of Hormuz over the past 24 hours. A U.S. official said the Treasury Department’s Office of Foreign Assets Control revoked the general license authorizing Iranian oil sales because the MOU is “performance-based.” Iran’s Foreign Ministry said Tehran was fulfilling its commitments under the MOU and urged regional countries and shipping companies not to take actions that contradict its provisions.