Iran's Foreign Ministry Calls US Revocation of Oil Export License a Violation of Islamabad Understanding

Iran's Foreign Ministry said Tuesday, July 7, 2026, that the US Treasury's revocation of Iran's temporary oil export license constitutes a "flagrant violation of Article 10" of the Islamabad Understanding ceasefire framework signed on June 28, 2026. The ministry said that less than 20 days after the deal was signed, revoking the license, which had been issued June 21 and permitted Iran to sell crude oil and petroleum products until August 21, was "another sign of the US government's bad faith, instability and unreliability." Iran's Foreign Ministry added that this move, combined with repeated military strikes and violations of Strait of Hormuz arrangements, has effectively rendered important parts of the war ending understanding ineffective. The license revocation took effect July 7 and affects Iran's oil revenue flows and export market.