The International Maritime Organization has paused its evacuation of thousands of stranded sailors and hundreds of cargo ships from the Persian Gulf, after an unknown projectile hit a Singapore-flagged vessel in the Strait of Hormuz on Thursday. U.S. officials said Iran had fired on the ship; Iranian officials have not claimed responsibility, but the attack came just hours after the Islamic Revolutionary Guard Corps warned ships must first coordinate passage through the strait with Iran’s Navy.

Meanwhile, the U.S. Treasury Department has granted Iran a 60-day sanctions exemption, allowing it to sell crude oil and petrochemicals in U.S. dollars for the first time in over four decades. The move will unlock billions of dollars in revenue for Iran’s oil industry.