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US is revoking Iran-related license to export oil
*US IS REVOKING IRAN-RELATED GENERAL LICENSE TO EXPORT OIL
— *Walter Bloomberg (@DeItaone) July 7, 2026
*IRAN'S ACTIONS IN STRAIT OF HORMUZ WHOLLY UNACCEPTABLE: OFFICIAL
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Revocation and Wind Down of June 21, 2026 Authorization for the Production, Delivery and Sale of Crude Oil Products of Iranian Origin
Effective July 7, 2026, General License X, dated June 21, 2026, is revoked and superseded in its entirety by General License X1. Except as provided in paragraph, all transactions prohibited by the above-listed authorities that are ordinarily incident and necessary to the wind down of transactions previously authorized by General License X are authorized through 12:01 a.m. eastern daylight time, July 17, 2026, provided that any payment to a blocked person must be made into a blocked, interest-bearing account located in the United States. Note to paragraph (b). Except to the extent ordinarily incident and necessary to ... (full story)
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