Iran Condemns U.S. Revocation of Oil Sales Waiver
WANA (Jul 08) – Iran’s Foreign Ministry has condemned the U.S. decision to revoke the temporary waiver allowing certain transactions involving Iranian oil sales, calling it a clear violation of Article 10 of the Islamabad Memorandum and stating that Washington will bear responsibility for the consequences.
In a statement, the ministry said the move, announced less than 20 days after the memorandum was signed on June 18, 2026, demonstrates the U.S. government’s “bad faith, inconsistency, and lack of reliability.” The statement also said that the United States had repeatedly breached various provisions of the agreement in recent weeks, both directly and through Israeli actions against Lebanon.
According to the ministry, Iran has fully honored its commitments under the memorandum since its signing and has acted in good faith to implement its obligations. It added that, despite this, the United States has continued to justify its own violations with various explanations.
The Foreign Ministry warned of the consequences of what it described as the U.S. breach of commitments and said Iran would take any measures it considers necessary to safeguard its national interests and security.
The statement came after the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it had revoked the temporary general license issued on June 21, 2026, which had allowed the sale of Iranian crude oil and petroleum products until August 21.
According to the Treasury Department, General License X1 took effect on July 7, 2026, replacing the previous General License X. The new authorization allows only the wind-down of previously approved transactions for a limited period.
Under the revised license, parties have up to 10 days to conclude transactions related to Iranian crude oil, petrochemical products, and petroleum products that had previously been authorized. The Treasury also stated that, effective July 7, 2026, no new transactions—including the purchase, loading, or trade of Iranian crude oil, petrochemical products, or petroleum products—will be permitted.
U.S. Revokes Iran Oil Waiver, Straining Tehran-Washington Deal
WANA (Jul 08) – The U.S. Department of the Treasury has revoked a general license issued less than a month ago that allowed transactions involving Iranian crude oil, petrochemical products, and petroleum products, imposing new restrictions on such trade. Iranian officials have described the move as a violation of Article 10 of the memorandum of […]
