US SLAMS IRAN WITH OIL SANCTIONS AFTER UNACCEPTABLE STRAIT OF HORMUZ ATTACKS

The US has unleashed “powerful strikes” on Iran, revoking its oil sales waiver as punishment for Tehran's missile and drone attacks on commercial ships in the Strait of Hormuz.

The Trump administration condemned Iran’s aggression as “wholly unacceptable,” citing a breach of the ceasefire terms outlined in a recent Memorandum of Understanding.

In a dual response, the US hit Iran militarily and financially. “The Office of Foreign Assets Control is revoking GL X, which authorized the sale of Iranian oil,” a US official stated. The administration emphasized that the MOU is strictly performance-based.

US Central Command confirmed that forces had initiated a series of strikes against Iran, aiming to impose severe costs for targeting commercial shipping with innocent civilians aboard in international waters.

“Iran’s demonstrated aggression was unwarranted, dangerous, and a clear violation of the ceasefire,” the command declared.

Reports from Iranian state media indicated explosions near Sirik and Qeshm Island in southern Iran, following the US military actions.

The last US military strikes occurred late last month, targeting Iranian drone storage facilities and coastal radar sites in retaliation for a drone attack on a cargo ship in the Strait of Hormuz.

This renewed military campaign follows Iran's recent attacks on two commercial tankers from the United Arab Emirates and Saudi Arabia, along with an assault on a Qatar-flagged tanker.

These attacks resulted in damage and fires onboard the vessels.

“Iran will only reap benefits if they exhibit good behavior,” the US official warned. “Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences.”

The sanctions waiver and ceasefire were critical components of the US-Iran memorandum signed last month, which also required Iran to reopen the Strait of Hormuz.

This lucrative waiver had provided immediate relief to Iran’s struggling economy after months of US blockades on its ports and ongoing sanctions.

Initially set to last until August 21, the waiver allowed Iran to sell oil openly for the first time since the 1990s, potentially generating $10 billion over two months without resorting to under-the-table deals.

The Iranian Foreign Ministry denounced the US actions as a “gross violation” of the MOU, warning of repercussions for America’s breach of agreement.

“[Iran] will take any action it deems necessary to protect its interests and national security,” they asserted.

They further claimed that reinstating sanctions reflects the US's ill intentions and unreliability.

An Iranian source indicated that these developments could jeopardize future peace negotiations, which were tentatively scheduled for Saturday.

Despite this, the US official maintained that American negotiators are “working in good faith towards a final deal.”