U.S. Reimposes Total Iran Oil Sanctions as Conflict Scales to 85 Military Sites

The conflict between the United States and Iran entered an aggressive new phase over the last 24 hours as the Trump administration coupled military action with a total economic blockade. On July 7, the U.S. Treasury officially revoked Iran’s oil sales license and reimposed comprehensive sanctions, a move President Trump confirmed at the NATO summit in Ankara represents the formal end of the June 2026 memorandum of understanding (MoU). Trump stated that while diplomats may continue to talk, he views dealing with Tehran as a "waste of time," citing the risk of Iran's future nuclear capabilities. In immediate retaliation, the Islamic Revolutionary Guard Corps (IRGC) launched strikes against 85 U.S. military installations across Bahrain and Kuwait. This escalation follows U.S. operations that targeted 80 Iranian assets, including 60 IRGC small boats and coastal radar systems. The regional fallout reached a new peak on the morning of July 8, as Kuwait’s Foreign Ministry condemned Iranian strikes on its sovereignty. Simultaneously, attacks on Qatari and Saudi tankers in the Strait of Hormuz have triggered a 5% spike in global oil prices and prompted U.S. CENTCOM to strike Iranian anti-ship missile sites. This strategic shift marks a transition from localized kinetic exchanges to a broader campaign of economic-kinetic warfare aimed at strangling Iran’s primary revenue sources. Iranian Parliament Speaker Ghalibaf has accused Washington of major violations of previous agreements, while U.S. officials maintain that Iran’s targeting of commercial shipping necessitated the collapse of the ceasefire. As the Strait of Hormuz remains a precarious chokepoint, the international community is bracing for sustained energy market volatility and potential regional expansion of the conflict.