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The U.S. Treasury Department will revoke its authorization of Iranian oil sales after a series of attacks on tankers in the Strait of Hormuz.
The Office of Foreign Assets Control is revoking the license that allowed the production, delivery, and sale of Iranian oil through August 21, a U.S. official told CNBC Tuesday.
The Trump administration waived U.S. sanctions on Iranian oil under the interim deal to reopen Hormuz. But Iran has launched a series of attacks on tankers transiting the strait this week, despite promising safe passages to commercial ships under the deal.
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