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Trump Administration Reinstates Iran Oil Sanctions

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Posted By: Mercedes44, 7/8/2026 5:43:22 AM

The Treasury Department revoked a sanctions waiver issued on June 21 that had temporarily allowed transactions involving Iranian crude oil, petroleum products, and petrochemicals. Under the new guidance, companies have until July 17 to wind down transactions previously authorized under the waiver. The original authorization had been set to remain in effect through Aug. 21. The waiver was issued as part of a ceasefire memorandum of understanding (MOU) reached between the United States and Iran following months of conflict. A U.S. official said the agreement was always contingent on Iran’s behavior.

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Trump Administration Reinstates Iran Oil Sanctions 0 replies
Posted by Mercedes44 7/8/2026 5:43:22 AM Post Reply
The Treasury Department revoked a sanctions waiver issued on June 21 that had temporarily allowed transactions involving Iranian crude oil, petroleum products, and petrochemicals. Under the new guidance, companies have until July 17 to wind down transactions previously authorized under the waiver. The original authorization had been set to remain in effect through Aug. 21. The waiver was issued as part of a ceasefire memorandum of understanding (MOU) reached between the United States and Iran following months of conflict. A U.S. official said the agreement was always contingent on Iran’s behavior.
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