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U.S. Rescinds Iran Oil Sales License on July 7, Wind-Down Period Ends July 17

GateNews
Commodities
According to the U.S. Treasury Department's Foreign Assets Control Office, the United States rescinded a general license authorizing Iran oil sales on July 7, with wind-down transactions permitted until July 17 at midnight Eastern Time. International oil prices rose in response. Anonymous U.S. officials stated that preliminary indications show Iran fired on three commercial vessels in the Strait of Hormuz recently, calling the action "completely unacceptable" and warning of consequences. Despite the escalation, U.S. negotiators are "proceeding in good faith toward a final agreement with Iran," officials added.
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