{"id":897,"date":"2026-07-08T10:38:56","date_gmt":"2026-07-08T10:38:56","guid":{"rendered":"https:\/\/urbaneconomynews.com\/?p=897"},"modified":"2026-07-08T10:38:56","modified_gmt":"2026-07-08T10:38:56","slug":"trump-administration-reinstates-iran-oil-sanctions-after-strait-of-hormuz-attacks","status":"publish","type":"post","link":"https:\/\/urbaneconomynews.com\/?p=897","title":{"rendered":"Trump Administration Reinstates Iran Oil Sanctions After Strait of Hormuz Attacks"},"content":{"rendered":"
\n

The Trump administration on Tuesday reimposed sanctions on Iranian oil and petrochemical sales after Tehran reportedly attacked three vessels near the Strait of Hormuz.<\/p>\n

Read more Judge Rules Trump\u2019s J6 Pardons Do Not Cover Pipe Bomb Defendant<\/a><\/p>\n

The Treasury Department revoked a sanctions waiver issued June 21 that had temporarily allowed transactions involving Iranian crude oil, petroleum products and petrochemicals. Companies have until July 17 to wind down transactions previously authorized under the waiver, which had been set to remain in effect through August 21.<\/p>\n

The waiver was issued as part of a ceasefire memorandum of understanding reached between the United States and Iran after months of conflict.<\/p>\n

A U.S. official said the agreement was contingent on Iran\u2019s conduct and that Tehran\u2019s reported attacks near the Strait of Hormuz violated the terms of the understanding, prompting the administration to restore sanctions.<\/p>\n

Despite the decision, the official said negotiations toward a broader agreement with Iran are continuing.<\/p>\n

The Treasury Department\u2019s updated license bars new purchases, loading or sales of Iranian oil or petrochemical products after July 7. Limited wind-down activities are permitted through July 17. Transactions involving other sanctioned jurisdictions or activities prohibited under separate U.S. sanctions authorities remain barred.<\/p>\n

President Donald Trump told reporters Monday that the administration was making progress toward an agreement with Iran but said the U.S. military remained prepared to act if diplomacy failed.<\/p>\n

Read more Morning Greatness: Trump Says He\u2019ll Consider Giving Turkey F-35 Jet<\/a><\/p>\n

\n

.@POTUS: \u201cOil is is now at a level that, I think it\u2019s even lower, on a barrel basis, than it was before we started. We\u2019ve gotten concessions, and they have to hold those concessions, but there\u2019ll be no nuclear weapon. We\u2019re going to be getting the, as I call it, dust; the\u2026 pic.twitter.com\/4t9GWOqy5S<\/p>\n

\u2014 Rapid Response 47 (@RapidResponse47) July 6, 2026<\/p>\n<\/blockquote>\n

\u201cWe\u2019re either going to make a deal or we\u2019re going to finish the job,\u201d Trump said. \u201cAnd it won\u2019t be tough to finish the job.\u201d<\/p>\n

Trump said he preferred a diplomatic resolution.<\/p>\n

\u201cI\u2019d rather make a deal because I don\u2019t want to affect 91 million people,\u201d he said. \u201cWe can knock down their bridges in one hour. We can knock out their energy supply.\u201d<\/p>\n

Tehran accused the United States of violating the ceasefire memorandum after Washington restored the sanctions and later carried out military strikes. Iran\u2019s Foreign Ministry said the country would take \u201cdecisive measures\u201d to protect its national interests and security.<\/p>\n

Earlier Tuesday, U.S. forces carried out what the military described as \u201cpowerful strikes\u201d against Iran after Tehran allegedly attacked three commercial ships traveling through the Strait of Hormuz.<\/p>\n

Read more Breasterton\u2019s Fence: We\u2019ve Meddled With Breastfeeding With Dire Consequences<\/a><\/p>\n

U.S. Central Command said the attacks violated the ceasefire agreement.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Trump administration on Tuesday reimposed sanctions on Iranian oil and petrochemical sales after Tehran reportedly attacked three vessels near the Strait of\u2026<\/p>\n","protected":false},"author":1,"featured_media":620,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nTrump Administration Reinstates Iran Oil Sanctions After Strait of Hormuz Attacks - Urban Economy news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/urbaneconomynews.com\/?p=897\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Administration Reinstates Iran Oil Sanctions After Strait of Hormuz Attacks - 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