Commercial vessels and oil tankers preparing to transit through the Strait of Hormuz, one of the most critical strategic waterways for global trade flows, maintain their wait in the Gulf of Oman, on June 17, 2026. Shady Alassar | Anadolu | Getty ImagesThe Treasury Department is revoking the license that allows the sale of Iranian oil, a U.S. official told CNBC Tuesday. The decision to revoke the authorization comes after several tankers were attacked in the Strait of Hormuz. "As President Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based," the official said. "Iran will only reap benefits if they exhibit good behavior," they said. "Iran's actions in the Strait were wholly unacceptable to the United States and will be met with co