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US Strikes Iran, Revokes Sanctions Waivers Over Continued Attacks on Merchant Ships in Hormuz

Yoo Younggyu

Published : Jul 8, 2026 7:59 AM


▲ U.S. President Donald Trump delivering a speech

The United States launched a dual economic and military crackdown on Iran on July 7 (local time) in response to the country's persistent attacks on merchant vessels in the Strait of Hormuz.

The move significantly intensifies pressure on Tehran, coinciding with U.S. President Donald Trump's visit to Turkey, which shares a border with Iran.

With Iran having recently used the funeral of former Supreme Leader Ayatollah Seyyed Ali Khamenei to rally anti-American sentiment, analysts suggest the future trajectory of the situation remains difficult to predict.

The U.S. Central Command (CENTCOM) announced on social media platform X that it had initiated a series of powerful airstrikes against Iran to ensure it pays a heavy price for targeting merchant ships carrying innocent civilians in international waters.

CENTCOM specified that the U.S. airstrikes were a response to Iranian attacks targeting three merchant vessels passing through the Strait of Hormuz.

It further emphasized that the Iranian attacks were unjustifiable, dangerous, and a clear violation of the ceasefire agreement.

The use of the phrase a series of powerful airstrikes in the announcement is notable.

It reflects the U.S. determination to retaliate with intense, simultaneous strikes against Iran, which continues to threaten the stability of the Strait of Hormuz through ongoing attacks on commercial shipping.

Two hours before announcing the start of the airstrikes, the U.S. took a hardline stance by revoking sanctions waivers on Iranian crude oil.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that it was canceling the 60-day temporary general license issued on June 21, which had permitted the production, delivery, and sale of Iranian crude oil.

This decision reverses, after only about 15 days, the sanctions exemption that was intended to remain in place during the 60-day follow-up negotiation period following the memorandum of understanding (MOU) signed between the U.S. and Iran. By doing so, the U.S. has stripped Iran of a key economic benefit it had been enjoying under the MOU framework.

The OFAC action is also a response to the tanker attacks in the Strait of Hormuz.

Reuters reported that a U.S. government official stated Iran's actions in the Strait of Hormuz are absolutely unacceptable and that the country will pay a price.

The timing of the airstrikes and the revocation of sanctions waivers is significant, as it occurred while President Trump was visiting Ankara, Turkey, for a NATO summit.

Turkey shares a border with Iran.

By taking such aggressive action while physically closer to Iran, President Trump has signaled a warning to Tehran and asserted his presence.

Shortly after arriving in Ankara, President Trump expressed disappointment that NATO was not cooperating on the Iran conflict, making remarks that appeared to be an attempt to discipline NATO leaders ahead of their meeting.

Iran immediately pushed back.

The Iranian Foreign Ministry issued a statement warning of a resolute response to the U.S. airstrikes.

According to Reuters, the Iranian Foreign Ministry also addressed the U.S. Treasury's measures, labeling them a violation of the bilateral ceasefire agreement and vowing that the U.S. would pay a price.

Having recently held the funeral for former Supreme Leader Khamenei after a delay of about four months—using the event as a catalyst for anti-American unity—attention is now focused on the intensity of Iran's potential retaliation.

In particular, as the oil sanctions waiver had served as a lifeline for Iran, which has been struggling under economic pressure from the U.S. and the international community, some predict this could trigger a high-intensity response from Tehran.

Observers note that if the situation escalates due to Iranian retaliation, it will inevitably have a negative impact on the follow-up negotiations between the two sides, which were already facing a bleak outlook.

When the U.S. and Iran agreed to the MOU last month, they deferred difficult issues, such as denuclearization, to a 60-day follow-up negotiation period, leading to widespread skepticism about the possibility of a final agreement.

In late June, the U.S. also conducted airstrikes on Iranian military facilities in response to attacks on merchant ships, followed by Iranian retaliation targeting U.S. military bases in the Middle East over two consecutive days.

(Photo: AP, Yonhap News)