The U.S. Treasury Department on Tuesday revoked its authorization of Iranian oil sales after a series of attacks on tankers in the Strait of Hormuz this week.
"Iran will only reap benefits if they exhibit good behavior," a U.S. official told CNBC. "Iran's actions in the Strait were wholly unacceptable to the United States and will be met with consequences."
The Joint Maritime Operations Center on Tuesday raised its threat assessment in Hormuz to "severe," after attacks on a liquefied natural gas tanker, an oil supertanker and an specified third tanker. The center is a U.S.-led naval group in Bahrain that coordinates with merchan ships.
The Trump administration had issued a license last month that authorized the production, delivery and sale of Iranian oil through August 21.
<small>Source: CNBC</small>
