US reinstates sanctions on Iranian oil sales after LNG, oil tanker attacks
- Posted on July 8, 2026
- By Business News Today
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- 1 min read
US reinstates sanctions on Iranian oil sales after LNG, oil tanker attacks
United States reimposed sanctions on Iranian oil sales Tuesday. This action followed attacks on vessels in the Strait of Hormuz. The U.S. Treasury had previously authorized sales until August 21. Tuesday's revocation shortens this wind-down period to July 17. Oil prices rose more than five percent after the announcement.
