The US Treasury Department revoked a license lifting oil sanctions on Iran after attacks on tankers in the Strait of Hormuz. The waiver, which allowed Iran to sell oil until August 21, was rescinded due to "wholly unacceptable" actions by Tehran.
The Treasury Department wants US banks and other financial institutions to monitor for suspected Iranian money-laundering networks that use their funds to smuggle sanctioned oil through shell companies and cryptocurrency networks. The move, which effectively deputises the global financial system to help disrupt Iran’s sanctions-evasion infrastructure, comes as the US and Iran reached another impasse over how to end their war while their ceasefire has grown increasingly shaky. US President Donald...
