The United States has reimposed sanctions on Iranian oil, ending a temporary sanctions waiver ahead of its original August 21 expiration and setting a new deadline of July 17. The move follows a series of attacks on commercial vessels in and near the Strait of Hormuz, which U.S. officials attributed to Iran, although Tehran has not commented.
Despite the renewed sanctions, U.S. officials said negotiations with Iran toward a broader agreement are continuing. The escalation has raised concerns over the stability of the diplomatic process and the security of the Strait of Hormuz, a vital global energy transit route. The announcement pushed oil prices up more than 5%, reflecting fears of potential supply disruptions and increased geopolitical risk.