US Strikes Iran, Revokes Oil Sanctions After Tanker Attacks in Strait of Hormuz

The U.S. military conducted a wave of strikes against Iran on Tuesday after three commercial tankers were hit by projectiles in the Strait of Hormuz. U.S. Central Command (CENTCOM) stated it hit over 80 targets, including more than 60 small boats of the Islamic Revolutionary Guard Corps, air defense systems, and missile sites, to degrade Iran's ability to attack shipping. In a statement, CENTCOM described the initial aggression as a "clear and dangerous violation of the ceasefire."

In response, Iran's joint military command, Khatam al-Anbiya, called the U.S. action a "blatant act of aggression" and threatened a "crushing response." Iranian media reported explosions early Wednesday local time on the oil hub of Kharg Island and in the southern port cities of Sirik and Bandar Abbas. While no civilian deaths were reported, several injuries and damage to fishing piers and boats were noted in Sirik and Bandar Abbas.

The escalation followed attacks on multiple vessels. Qatar's foreign ministry summoned Iran's deputy ambassador to protest an attack on a Qatari liquefied natural gas tanker, the Al Rekayyat, which was reportedly struck by a drone. A Saudi-flagged crude oil supertanker was also damaged off the coast of Oman. A U.S. official indicated that initial assessments suggested Iran had fired at three commercial vessels. Iran's foreign ministry called Qatar's accusations perplexing, stating that vessels using routes not coordinated with Iran faced risks.

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These events jeopardize a ceasefire agreement reached last month, which was intended to allow for a 60-day window for negotiations. In a significant blow to the deal, Washington revoked a license that had permitted Iran to sell oil on international markets. The U.S. Treasury has given Iran until July 17 to wind down oil-related transactions. The move contributed to a rise in oil prices of more than 3%.