The US Military Resumes Strikes on Iran and Imposes Oil Sanctions
BlockBeats News, July 8th, the US Central Command stated that USCENTCOM forces have begun a series of powerful strikes against Iran in response to Iran's targeting and attacks on commercial shipping operated by civilian crews in international waters. The US Central Command said that the US strikes were in response to Iran's attacks on three ships transiting the Strait of Hormuz and stated that Iran's aggressive actions were "unjustified, dangerous," and a "clear violation of the ceasefire agreement."
US officials stated that the strike against Iran was a "punitive action, not a proportional response," and mentioned that the operation "will not end in the near term."
At the same time, the US revoked a authorization allowing Iran to sell oil, and related winding-down transactions will be allowed to continue until July 17th at midnight Eastern Time. In response, international oil prices surged. US Treasury Secretary Yellen had announced on June 22nd that, as part of the US-Iran negotiation framework, the US Department of the Treasury issued a 60-day general license authorizing the production, delivery, and sale of Iranian oil. According to an announcement from the US Department of the Treasury's Office of Foreign Assets Control that day, transactions involving Iranian crude oil, petrochemicals, and petroleum products that were previously prohibited by multiple US executive orders and regulations were exempted, with the deadline extended to August 21, 2026.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Under continuous pressure from inflation and interest rate hike concerns, US Treasury sell-off intensifies; 30-year yield once surpassed 5.6%, hitting a more than 24-year high
U.S. long-term Treasury yields continued to rise on Tuesday, extending the recent sharp upward trend.
The US releases the final batch of strategic oil reserves, up to 40 million barrels, urging Europe to follow suit.
This is the final batch of the 172 million barrels of reserves released by the United States in this round; after this release, the U.S. Strategic Petroleum Reserve will drop to its lowest level since 1982, approaching legal and operational red lines. Meanwhile, the U.S. Secretary of Energy criticized some European countries for releasing far less than expected, urging them to fulfill their commitments. Currently, gasoline and diesel prices in the U.S. remain high, and less than two months remain until the midterm elections. On Tuesday, WTI crude oil futures fell by 3.95%.
Raphael Zagury: Bitcoin will eventually surpass gold
Federal Reserve Bowman: AI Brings Both Opportunities and Risks to the Banking Industry, Fed Urges Strengthening of System Security Protections
Federal Reserve Vice Chair for Supervision, Bowman, warned that AI has a dual impact on the banking industry, serving both as a defensive tool and introducing new emerging risks. She urged banks to strengthen basic cybersecurity measures, including updating asset inventories, deploying multi-factor authentication, and improving vulnerability management. Bowman also stated that regulators will continue to adjust their examination approaches, implementing differentiated supervision for community banks instead of imposing blanket mandatory requirements.
Crypto prices
More
