Tehran: Deputy Foreign Minister for Legal and International Affairs of the Ministry of Foreign Affairs Kazem Gharibabadi has reacted to the US action in revoking the sunset clause on sanctions against Iran's oil sales, and said Iran will take decisive measures to safeguard its national interests and security. The United States' decision to revoke the waiver exempting Iran's oil sales from sanctions constitutes a blatant violation of Article 10. Its subsequent military operations against Iran also constitute a serious violation of Articles 1 and 2 of the Islamabad Memorandum of Understanding, Gharibabadi wrote on his X account on Tuesday.

According to Islamic Republic News Agency, over the past three weeks, Washington has persistently breached Paragraphs 1 and 2 of the MoU both through the Israeli regime's activities in Lebanon and through its own threatening rhetoric directed at Iran, he added. Iran, while issuing a serious warning regarding the consequences of US' lawlessness, will take decisive measures to safeguard its national interests and security, he noted.

The US Treasury Department's Office of Foreign Assets Control (OFAC) announced on Tuesday local time that it had revoked the waiver announced on June 21, which had permitted Iran to sell its crude oil and petroleum products until August 21. According to the US Treasury Department's announcement, 'Effective July 7, 2026, General License X, dated June 21, 2026, is revoked and superseded in its entirety by General License X1.'

The new license states that the United States, as of Tuesday, July 7, 2026, will 'not authorize any new transactions, including purchases or loading of such products on or after July 7, 2026.'