US Conducts Airstrikes on Iran and Ends Oil Waiver After Hormuz Tanker Attacks

US Central Command stated the strikes imposed costs for targeting civilian-crewed shipping in an international waterway. The waiver revocation immediately halts the mechanism that had allowed limited Iranian crude sales under prior sanctions relief frameworks. Official records show Iranian exports had averaged 1.2 million barrels per day in the preceding quarter before the policy shift. The move aligns US incentives with protecting maritime transit routes that carry 20 percent of global oil trade while raising the direct cost to Iran of sustaining proxy operations. Iranian statements document repeated assertions that attacks originated from non-state actors, yet no independent verification has confirmed alternative attribution. Primary shipping data from Lloyd’s List indicates three incidents involving vessels transiting Hormuz between June 28 and July 5. Both parties face measurable trade-offs. Washington gains deterrence credibility and reduced risk to energy supply chains but accepts higher oil price volatility and potential Iranian retaliation against US regional assets. Tehran loses an estimated $2.5 billion monthly in export revenue yet retains leverage through asymmetric disruption of the same waterway. No new UN Security Council resolution has altered the underlying sanctions architecture since 2018. Subsequent actions will hinge on whether Iranian export volumes drop below 400,000 barrels per day within thirty days and whether additional attacks on shipping occur before August.