The US Treasury Department announced Tuesday that the US was reinstating sanctions on Iranian oil following Iranian attacks on vessels in the Strait of Hormuz.
According to a US source, the sanctions will take effect on July 17. Immediately after the announcement, oil prices jumped 5%, returning to above $70 a barrel.
The dramatic move comes just two days after Washington warned Tehran that continued attacks on tankers and ships in the strategic shipping lane would lead to the reimposition of sanctions, Israel Hayom has learned. It was also reported that the US warning was relayed to the Iranians through mediators Qatar and Pakistan.
Iranian Foreign Minister Abbas Araghchi responded to the warning by saying that the heads of the Islamic Revolutionary Guard Corps were demanding that the US drop its opposition to the imposition of Iranian transit fees in the Strait of Hormuz.
Israel Hayom has also learned that Qatar issued a stern warning of its own after a Qatari-owned liquefied natural gas (LNG) tanker was attacked in the area the day before yesterday. The Qataris made clear to Iran that following the incident, they would not advance the unfreezing of Iranian funds deposited in banks in Qatar.
However, at this stage, the United States does not appear likely to reimpose an actual naval blockade, and will instead make do with enforcing the economic sanctions, as it did before the war.
"wholly unacceptable"
According to the announcement, the US is revoking a general license that had allowed the sale of Iranian oil, warning that Iran's actions in the Strait of Hormuz were "wholly unacceptable" and would carry consequences after attacks on tankers in the strategic waterway.
The move came after three tankers reported being hit by unidentified missiles in and near the Strait of Hormuz in recent days, according to the United Kingdom Maritime Trade Operations agency, which is affiliated with the British Navy. There was no immediate response from Tehran, nor any claim of responsibility.
A US official said negotiators had continued working in good faith toward a final agreement with Iran despite the latest escalation. The attacks and the US response threaten to place the fragile diplomatic understanding between Washington and Tehran on shaky ground, raising the risk that further retaliation could also derail negotiations on a broader agreement.
