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US Strikes Iran and Slaps New Sanctions After Strait of Hormuz Tanker Attacks
NYT > U.S. News·Wednesday, 8 July 2026
The US carried out military strikes on Iran and revoked a sanctions waiver on Iranian oil sales after three tankers were attacked in the Strait of Hormuz. The Treasury had allowed global sales of Iranian oil under a 60-day exemption, which has now been cut short. The military operation followed the sanctions move by just hours.
Why It Matters
India is one of the largest buyers of Iranian oil. Any disruption to Iranian oil supplies or new sanctions directly affects India's energy costs and supply chains.
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