Sanctions and economy reporting on Iran — new designations and relief, oil exports and shipping, banking restrictions, and the effect on the rial and daily prices — collected from independent English-language outlets.
New posts 13:24 European Aviation Agency Advises Airlines To Avoid Iranian Airspace The European Union Aviation Safety Agency (EASA) said on July 8 that airlines should avoid the airspaces of Iran, Iraq, and Lebanon until August 31 amid ongoing tensions in the Middle East and the potential for more military action.
Oil prices jump 5 percent after Trump says Iran ceasefire over International benchmark Brent North Sea crude jumped 5. 3 percent to $78. 09 a barrel, while the main US contract, West Texas Intermediate, advanced 5.
TEHRAN (Tasnim) – Iran’s Deputy Foreign Minister for Legal and International Affairs Kazem Gharibabadi slammed the US’s decision to revoke the sanctions waiver permitting the sale of Iranian oil as a flagrant violation of a Pakistan-mediated memorandum of understanding signed between Tehran and Wash
Tehran [Iran], July 8 (ANI): Iran's Ministry of Foreign Affairs on Wednesday strongly condemned the United States' decision to revoke a temporary suspension of sanctions on Iranian oil sales, calling it a 'clear violation' of Article 10 of the Islamabad Memorandum of Understanding (MoU) signed on June 18.
Washington DC [US], July 8 (ANI): The United States has revoked a general licence that authorised the sale of Iranian oil, saying Tehran's actions in the Strait of Hormuz were 'wholly unacceptable' and would have consequences following recent attacks on commercial tankers, The Times of Israel reported.
The military operation came hours after the U. S. Treasury revoked a waiver allowing global sales of Iranian oil.
For just over two weeks, Iran had something it had not held in decades: a US authorization opening the way for the sale of its oil. On Tuesday, after tanker attacks near the Strait of Hormuz, Washington took it back.
Iran accuses US of breaching MoU over oil sanctions waiver Iran's Foreign Ministry has accused the US of breaching Article 10 of the memorandum of understanding by cancelling a temporary waiver on sanctions targeting Iranian oil sales. In a statement, the ministry condemned the US Treasury's move, calling it a "clear violation" of the memorandum signed on 18 June. It said the decision, taken less than 20 days after the signing of the memorandum, showed "bad faith" and proved that the US administration could not be trusted.
US cancels waiver allowing Iran oil sales as Gulf vessels attacked Submitted by MEE staff on Tue, 07/07/2026 - 21:38 Qatar and Saudi Arabia said their vessels were attacked by Iran as they transited the Strait of Hormuz The 'Al-Yarmouk' oil tanker sails in the Arabian Gulf waters, off the coast of Kuwait City on June 27, 2026 (Yasser al-Zayyat/AFP) Off The Trump administration on Tuesday revoked a licence that temporarily lifted oil sanctions on Iran after several vessels came under attack in the Gulf, removing the main economic incentives that saw it agree to an end to the war in the Middle East. The Trump administration made the decision after Qatar and Saudi Arabia said their vessels came under attack from Iran. Brent, the international benchmark, jumped nearly five percent amid the rising tensions.
No 'magic wand': Trump faces layers of resistance on Turkey F-35 deal Submitted by Sean Mathews on Tue, 07/07/2026 - 19:56 The US president says he is 'lifting sanctions' on Turkey, but the pathway to closer defence ties is not clear-cut Turkish President Recep Tayyip Erdogan, left, hosts US President Donald Trump for a state ceremony at Bestepe Presidential Compound in Ankara, on the sidelines of the Nato Summit, on 7 July 2026 (Saul Loeb/AFP) Off President Donald Trump says he will lift sanctions on Turkey and overturn a ban on selling the US ’s Nato ally F-35 warplanes, but experts say he has “no magic wand” to do so without buy-in from Congress. “We’re going to be taking the sanctions off,” Trump said on Tuesday, sitting next to his Turkish counterpart, Recep Tayyip Erdogan, at his presidential palace in Ankara. “We don’t want to sanction friends.
US revokes licence authorising sale of Iranian oil The US Treasury Department has revoked the general licence that authorised the sale of Iranian oil, according to a statement issued by the Office of Foreign Assets Control. "Effective July 7, 2026, General License X, dated June 21, 2026, is revoked and superseded in its entirety by General License X1," the statement reads. The US had partially lifted sanctions on Iranian oil exports following what it described as "encouraging" talks over ending the war.
Trump says he is working to remove Turkey from US sanctions list Submitted by Yasmine El-Sabawi on Tue, 07/07/2026 - 17:52 The process remains unclear, but the US president is in Ankara for the Nato summit, where he reserved praise for his 'friend' Erdogan US President Donald Trump speaks with Turkish President Recep Tayyip Erdogan during a formal arrival at the Bestepe Presidential compound for the Nato summit in Ankara, Turkey, on 7 July 2026 (Emrah Gurel/Reuters) Off US President Donald Trump said on Tuesday that he is going to remove Turkey from a US blacklist that he himself imposed during his first term. Sitting in Ankara next to his Turkish counterpart, Recep Tayyip Erdogan, as part of the Nato summit, Trump announced: "We're going to be taking the sanctions off. Okay?
US prosecutors seek leniency for Turkish-Iranian sanctions case witness US prosecutors are seeking leniency at next week's sentencing of Turkish-Iranian businessman Reza Zarrab, who admitted to helping Iranians and their government evade sanctions. Prosecutors said in a sentencing memorandum to a New York federal judge on Monday that Zarrab provided substantial assistance to the US. They said the international gold trader revealed paying millions of dollars in bribes to government and banking officials in Türkiye and provided key testimony at a 2017 corruption trial that strained relations between the US and Türkiye.
Trump says US will lift sanctions on Turkey, consider selling F-35s Sitting next to Turkish counterpart Recep Tayyip Erdogan after landing in Ankara for a NATO summit, Trump said, "That's a decision we're going to make... it's a great plane, the best plane by far and it's certainly something we will consider. " The US had imposed sanctions on Turkey in 2020 over Ankara's purchase of Russian defense missiles.
Will the Iran-US MoU reshape economic relations in the Gulf? Submitted by Zahra Ladha on Tue, 07/07/2026 - 09:52 The memorandum envisages sanctions relief and a reconstruction fund, but investors remain wary of security risks A ship is seen through a fishing net in the port of Fujairah, UAE, near the Strait of Hormuz, 2 July 2019 (Karim Sahib/AFP) Off The Memorandum of Understanding (MoU) signed by the United States and Iran on 17 June could reshape the economic landscape of the Gulf by opening the door to renewed trade and investment with Iran. Central to the agreement is a commitment to ease longstanding sanctions and integrate Tehran more deeply into regional economic networks.
NEW YORK CITY, New York: Seven members of the OPEC+ alliance have agreed to modestly increase oil production in August, extending a series of monthly output hikes as crude prices continue to fall from highs reached during the recent conflict involving Iran.
Spain may style itself as Israel's most fervent adversary, but its sanctions are far from comprehensive Submitted by Ana Maria Monjardino on Mon, 07/06/2026 - 15:00 Madrid, like Colombia and South Africa, has found that despite strong vocal opposition to the Gaza genocide, it has been unable to follow through on its rhetoric Protesters hold Palestinian flags and banners during a demonstration against the participation of Israeli basketball team Hapoel IBI Tel-Aviv in the Euroleague, ahead of their match against Valencia Basket, in Valencia, Spain, 15 October 2025 (Jose Jordan/AFP) Off As criticism of Israel’s genocide continues in Gaza and government across the Americas and Europe have remained largely muted, Spain has stepped into the vacuum as one of the most vocal critics of the country in the West. Prime Minister Pedro Sanchez has called for multilateral measures to end the arms trade with Israel, including a push to suspend the EU–Israel Association Agreement. It is also the only EU country to have formally recalled its ambassador and, back in October 2023, announced it was halting arms sales to the country.
By Rajnish Singh New Delhi [India], July 6 (ANI) The Afghanistan-Pakistan-Iran corridor or Golden Crescent corridor continues to serve as the world's primary opiate trafficking complex, with pre-ban opium stockpiles estimated at around 13,200 tonnes still sustaining global heroin supply chains despite restrictions on cultivation, an official assessment report said.
OPEC+ countries to raise oil output after prices fall A handful of countries in the OPEC+ oil-producing alliance plan to modestly increase their output next month, bringing more oil online after fuel prices fell to levels not seen since before the US-Israeli war on Iran. The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, announced that seven countries would expand oil production by a combined 188,000 barrels per day in August. It is the fifth consecutive month that OPEC+ has agreed to raise oil output.
Nearly a third of Hormuz crossings used Omani route, tracking data shows Almost a third of vessels that crossed the Strait of Hormuz over the past few days did so along the coast of Oman, tracking data suggests, as the waterway remains a key part of the fragile truce between the US and Iran. A total of 108 vessels crossed the strait from Friday through Sunday, according to the latest update from maritime tracking agency MarineTraffic. Of those, 30 vessels, including crude and LPG tankers, followed the Omani route.
1028 sanctions stories in the last 90 days.
