US Revokes Iran Oil Waiver, Removing Key Incentive for Any Future Ceasefire

On July 8, the US Treasury revoked a temporary sanctions waiver allowing Iran to export oil, coinciding with a second night of military strikes. The move eliminates Tehran's principal financial lever to comply with agreements. Without the waiver's economic benefit, Iran loses a core reason to honor truces, while Washington narrows its own diplomatic options. Brent crude jumped 5% to near $80 a barrel as markets priced sustained disruption risk.