Tehran Condemns US Cancellation of Iran Oil Export License

ILLUSTRATION PHOTO/DOK Mahnaz Ghobakhloo via Wikimedia Commons

JAKARTA - The Iranian Foreign Ministry has condemned the US Department of the Treasury's decision to revoke Iran's oil export license. Iran warned Washington, Tehran would take any steps to protect its national interests and security.

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury on Tuesday, July 7, announced the suspension of the general license for the export of Iranian oil, which was replaced by new rules prohibiting new transactions and requiring all existing agreements to be completed before July 17.

"The decision of the US Department of the Treasury to lift the temporary suspension of the embargo on the sale of Iranian oil is 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, as reported by Sputnik, Wednesday, July 8.

The revocation of the permit issued on June 18 is said to be additional evidence of the "untrustworthiness of the US government."

The ministry stressed, "Iran warns the US of the consequences of violating the memorandum of understanding and will take any steps deemed necessary to protect its interests and national security."

The memorandum of understanding, signed online on June 18, gives the two countries 60 days to negotiate a final agreement on Iran's nuclear issue and US sanctions.

The document also sets a schedule for lifting the US naval blockade as well as restoring Iran's shipping lanes in the Strait of Hormuz.