US claws back key concession to Iran after fresh attacks on commercial ships in Strait of Hormuz
The U.S. is clawing back oil sanctions waivers offered to Iran as part of a framework deal that kicked off a two-month negotiating period after Iran attacked commercial vessels in...
By Fox News · Fox News
The U.S. is clawing back oil sanctions waivers offered to Iran as part of a framework deal that kicked off a two-month negotiating period after Iran attacked commercial vessels in the Strait of Hormuz Monday and Tuesday. A U.S. official confirmed that three commercial vessels were struck by Iran in the Strait of Hormuz between Monday and Tuesday, reigniting tensions after President Donald Trump said the U.S. had given Tehran "a week off" during funeral ceremonies for slain Supreme Leader Ali Khamenei. "As President Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based. Iran will only reap benefits if they exhibit good behavior," a U.S. official said, confirming the Treasury Department's Office of Foreign Assets Control (OFAC) would revoke the sanctions waivers. "Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences. Our negotiators continue to work in good faith towards a final deal," the official continued. The sanctions relief was part of a memorandum of understanding signed in June that launched a 60-day negotiating period between Washington and Tehran. Under the framework, both sides agreed to halt military operations while pursuing a broader peace agreement, and Iran committed to reopening the Strait of Hormuz to commercial shipping in exchange for limited economic relief, including oil sanctions waivers. The attacks targeted commercial shipping transiting one of the world's busiest maritime choke points. British maritime authorities confirmed a vessel was struck by a projectile near the coast of Oman Monday, while Iranian state media reported the ship had ignored warnings from Iranian forces. The attack reportedly caused a fire on board, but there were no immediate reports of fatalities. On Tuesday, the U.K. Maritime Trade Operations (UKMTO) reported that another tanker transiting the Strait of Hormuz had been struck by an unidentified projectile.…