U.S. strikes Iran after attacks on vessels in Strait of Hormuz

The U.S. military said it conducted airstrikes against Iranian military targets in the area of the Strait of Hormuz on Tuesday in retaliation for renewed Iranian attacks on commercial ships.Why it matters: The exchange of fire risks plunging the U.S. and Iran into a new cycle of retaliation, threatening the fragile memorandum of understanding (MOU) signed less than three weeks ago.A U.S. official said the targets included Iranian air defense systems, coastal surveillance systems, surface-to-air missiles, anti-ship cruise missile sites, drone launch sites and port facilities.Driving the news: Iran launched three separate attacks Monday and Tuesday against commercial ships in the Strait of Hormuz.The strikes came as a one-week lull agreed to by the U.S. and Iran expired.Shortly before the U.S. military retaliation, the Treasury Department announced it was revoking sanctions waivers that had allowed Iran to sell oil.What they are saying: CENTCOM said in a statement that the powerful strikes were aimed at imposing heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway.Iran's demonstrated aggression was unwarranted, dangerous, and a clear violation of the ceasefire, CENTCOM said.Editor's note: This is a breaking news story. Please check back for updates.