US Launches Strikes on Iran, Revokes License for Iranian Oil Exports
US forces carried out strikes on Iranian military targets and revoked the general license allowing Tehran to sell crude oil. According to the US Central Command (CENTCOM), the strikes hit more than 80 locations overnight on July 8, 2026. The military said the operation destroyed air defense systems, command centers, coastal radars, anti-ship missiles, and more than 60 Islamic Revolutionary Guard Corps (IRGC) fast attack craft. Iranian state media reported explosions in Sirik, Qeshm, and Bandar Abbas, while no civilian casualties have been reported.
The operation came in response to the July 7 attacks on three commercial tankers operating in the Strait of Hormuz. The targeted vessels included the Qatari-flagged M/T Al Rekayyat, the Saudi-flagged M/T Wedyan, and the Liberian-flagged M/T Cyprus Prosperity. The United States, Saudi Arabia, and Qatar blamed Iranian forces for the attacks, while Tehran has neither confirmed nor denied involvement.
The US Department of the Treasury simultaneously revoked the waiver that had allowed Iranian oil sales during a fragile diplomatic period. International buyers must wind down all existing transactions with Iranian oil entities by July 17. Amid escalating tensions around the Strait of Hormuz, a key route carrying approximately 20% of global oil shipments, crude prices surged by more than 5%.
