Iran's actions in the Strait of Hormuz are "completely unacceptable" to the US and "will face appropriate consequences," a US official stated on 7/7.
The US Department of the Treasury consequently revoked a temporary waiver on Iranian oil sanctions. This mechanism, announced by Washington in June, had permitted Iran to temporarily produce, sell, and transport crude oil and related products until 21/8. The new decision shortens this deadline to 17/7.
Following the Treasury Department's announcement, oil prices rose by more than 5%.
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Iran's oil tanker HUGE in Singapore in 11/2023. Photo: *Shipspotting* |
This action follows attacks on three ships, including a Qatari liquefied natural gas (LNG) tanker, within hours while they transited the Strait of Hormuz. Maritime monitoring organizations and Doha reported these incidents. It marks the first time a Qatari LNG vessel has been targeted since the conflict began.
Qatar, a key mediator, accused Iran of orchestrating this "unacceptable" incident. A US official also stated that initial indications point to Tehran targeting the cargo ships.
Iran has yet to comment on the attacks on commercial ships.
This new development has sparked concerns about freedom of navigation, especially after Iran ended its blockade of the Strait of Hormuz under a fragile ceasefire with the US. The US official emphasized that the memorandum signed by Washington and Tehran "is entirely dependent on the fulfillment of commitments." They warned that Iran would only receive benefits if it demonstrated "good faith through actions."
"Our negotiators continue to work towards a final agreement," the US official noted.
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Traffic flow through the Strait of Hormuz. Graphic: *Guardian* |
The future of the Strait of Hormuz, the Gulf region's vital energy shipping lane, remains a contentious issue in ongoing negotiations between Tehran and Washington. These talks aim to fully resolve the conflict that began in late February.
Tehran has recently asserted that the only permitted shipping corridor runs along its coastline. It claims all movement through Hormuz must be coordinated by Iranian forces, and other routes are "unacceptable and extremely dangerous."
By Huyen Le (AFP, Reuters)
