US reimposes sanctions on Iranian oil after Strait of Hormuz attacks
The United States has reinstated sanctions on Iranian oil, ending the sanctions relief that had previously been in effect, the U.S. administration announced.
According to the Treasury Department, the renewed measures take effect immediately. The department said transactions initiated during the permitted period may continue only if they are completed by July 17.
The move comes after the recent attacks in the Strait of Hormuz and marks a tightening of U.S. pressure on Iran.
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