U.S. withdraws exemption from sanctions on Iranian crude oil after series of attacks in Hormuz
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Amid a series of attacks on ships passing through the Strait of Hormuz, the U.S.
Amid a series of attacks on ships passing through the Strait of Hormuz, the U.S. Donald Trump administration announced on the 7th (local time) that it would withdraw sanctions relief measures related to crude oil trade, which the U.S. administration had proposed as a "carrot measure" against Iran. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced that it would abolish the measure to allow trading in Iranian crude oil, oil, and petrochemical products that went into effect on the 21st of last month. The U.S. signed a previous memorandum of understanding (MOU) with Iran and In relation to this, immediately after the first follow-up negotiations were held in Switzerland, it was decided to fully allow the production, delivery, and sale of Iranian crude oil for 60 days. It was evaluated as an unprecedented measure as it allowed payment in dollars. Initially, the sanctions relief measure was scheduled to be applied until August 21, but the U.S. Treasury declared an early termination on this day. The Treasury Department ordered that all new transactions will be blocked from this day, and that transactions made earlier will be settled by the 17th. In addition, even during the grace period, the amount to be paid to those subject to sanctions must be deposited in an account in the United States. This is the United States and
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