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Treasury Department authorizes Iranian oil sales under 60-day license
The 60-day license covers crude, petrochemical and petroleum products and could ease global supply strains after talks in Switzerland.
- On Monday, the U.S. Treasury issued a 60-day license waiving sanctions on Iranian oil, authorizing production and delivery of Iranian products through August 21.
- Diplomatic talks in Burgenstock, Switzerland, between Washington and Tehran aimed at ending the war prompted the waiver as part of an interim agreement signed last week.
- Vice President JD Vance said negotiators laid a "good foundation for a successful final deal," downplaying online threats from Iranian negotiator Mohammad Bagher Ghalibaf.
- Brent crude prices dropped over 3.5 percent to $77.7 per barrel, while shipping data tracked 55 merchant ships carrying more than 17 million barrels through the Strait of Hormuz.
- Negotiators have a 60-day window to address the future of Tehran's nuclear program, with International Atomic Energy Agency inspections potentially starting as soon as Monday.
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98 Articles
98 Articles
The US Department of the Treasury today approved a general license for Iran allowing the production, delivery and sale of crude oil, petrochemicals and petroleum products of Iranian origin until August 21, based on a Memorandum of Understanding between the United States of America (US) and Iran.
·Belgrade, Serbia
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Coverage Details
Total News Sources98
Leaning Left15Leaning Right24Center18Last UpdatedBias Distribution42% Right
Bias Distribution
- 42% of the sources lean Right
42% Right
L 26%
C 32%
R 42%
Factuality
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