Washington: The U.S. Treasury Department announced on Tuesday the revocation of a general license that had permitted the sale of Iranian oil. This decision comes in the wake of reports that three tankers were attacked in or near the strategically vital Strait of Hormuz.

According to Yonhap News Agency, the revocation has sparked concerns about its potential impact on diplomatic efforts initiated by U.S. President Donald Trump's administration. These efforts aim to negotiate with Iran to reopen the waterway, address the Islamic Republic's nuclear program, and work towards ending the ongoing conflict in the Middle East.

The general license, issued by the department's Office of Foreign Assets Control on June 21, was a temporary 60-day authorization for the production, delivery, and sale of Iranian oil. It was part of a preliminary peace agreement between Washington and Tehran, meant to de-escalate hostilities.

The United Kingdom Maritime Trade Operations (UKMTO) Centre reported that three tankers were allegedly hit by unidentified projectiles in the Strait of Hormuz or in an area east of Limah, Oman. This has heightened concerns among nations that rely heavily on the strait, such as South Korea, which depends on it for importing oil, natural gas, fertilizer, and other commodities.