US Revokes Iran Oil Sanctions Waiver After Strait of Hormuz Strikes The recent attacks on commercial vessels near the Strait of Hormuz have sent shockwaves through the global oil market.
Beneath this surface level concern, however, lies a complex web of geopolitics and economic interests.
The Trump administration's decision to revoke its sanctions waiver for Iranian oil sales is the latest move in an escalating game of cat and mouse between the US and Iran.