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U.S. to Revoke License Allowing Iranian Oil Sales
An American official announced the revocation of a license that allowed the sale of Iranian oil, pointing out that Iran's actions in the Strait of Hormuz are unacceptable and that it will face severe consequences following attacks on oil tankers in the region. Oil prices rose by more than 5% after this announcement, amid ongoing efforts to reach an agreement between Washington and Tehran that would include restrictions on the nuclear program and relief from sanctions, at a time when attacks on commercial vessels in the Strait of Hormuz are increasing.
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