The Treasury Department revoked a license Tuesday that had authorized the sale of Iranian oil after the country fired missiles on ships in the Strait of Hormuz. 

The department approved the 60-day license last month, which waived sanctions on Iranian oil as part of an interim agreement to end the fighting in the Middle East. 

The U.S. and Iran signed a "memorandum of understanding" last month, which said both sides have committed to “negotiating and achieving the final deal in a maximum 60 days, extended with mutual consent.”

The Treasury Department has not commented on canceling the license but a U.S. official confirmed to the New York Post that Iran's recent aggression was "wholly unacceptable."  

“The Office of Foreign Assets Control is revoking GL X, which authorized the sale of Iranian oil,” the unnamed official said. “As President Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based.

“Iran will only reap benefits if they exhibit good behavior. Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences,” the person added.

Iran fired missiles on three tankers in the strait on Tuesday, which marked the most in a single day since late April, according to the Associated Press. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.