Tehran Condemns US Revocation of Iranian Oil Export Licence

Iran’s Foreign Ministry has condemned the US Treasury Department’s decision to revoke a licence for Iranian oil exports and warned Washington that Tehran will take whatever steps are necessary to protect its national interests and security. On Tuesday, the US Treasury’s Office of Foreign Assets Control (OFAC) announced the suspension of the general licence for Iranian oil exports, replacing it with new rules that prohibit new transactions and require all existing agreements to be completed before 17 July. “The US Treasury Department’s decision to revoke the temporary suspension of the embargo on Iranian oil sales constitutes a serious violation of Article 10 of the memorandum of understanding on the cessation of military conflict,” the Iranian Foreign Ministry said in an official statement. The revocation of the licence issued on 18 June was cited as further evidence of the “untrustworthiness of the US government.” The ministry asserted, “Iran warns the US of the consequences of violating the memorandum of understanding and will take any steps deemed necessary to protect its national interests and security.” The memorandum of understanding, signed online on 18 June, gave both countries 60 days to negotiate a final agreement regarding Iran’s nuclear issue and US sanctions. The document also established a timetable for the lifting of the US naval blockade and the restoration of Iranian shipping lanes in the Strait of Hormuz.