US revoking general license for Iranian oil sales amid rising tensions in Strait of Hormuz

Crude oil tanker Odessa, carrying UAE crude after passing through the Strait of Hormuz with its Automatic Identification System transponder turned off, navigates the waters at Daesan port, where it is expected to discharge crude oil, in Seosan, South Korea, May 8. Reuters-YonhapWASHINGTON — The U.S. Treasury Department said Tuesday it is revoking a general license that authorized the sale of Iranian oil, after three tankers were reported to have come under attack in and near the crucial Strait of Hormuz.The revocation raised concerns that it could affect ongoing diplomatic efforts by U.S.

…

Excerpt limited to ~120 words for fair-use compliance. The full article is at Korea Times.