Treasury Department authorizes Iranian oil sales under 60-day license
The waiver follows talks in Switzerland and comes as Iran agreed to free transit in the Strait of Hormuz and nuclear inspections, officials said.
- 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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Mojtaba’s masterclass: Iran secures the unachievable - Full oil export license from Washington
Iran has secured what many see as its biggest economic breakthrough in decades after the United States authorized a temporary 60-day license covering the production, delivery and sale of Iranian oil and petrochemicals. Treasury Secretary Scott Bessent said the move forms part of the framework reached during ongoing talks in Switzerland, with Tehran pledging free transit through the Strait of Hormuz and access for IAEA inspectors. The deal could …
US Treasury Department Issues Waiver for Iranian Oil Sales Amid Switzerland Talks
US Treasury Secretary Scott Bessent announced on Monday that the US was issuing a temporary license to allow the sale of Iranian oil amid ongoing talks between the US and Iran in Switzerland in line with the Memorandum of Understanding aimed at ending the conflict between the two nations. "In…
Read on Il Fatto Quotidiano.it: U.S. general license authorizes production and sale of Iranian oil for 60 days, in exchange for guarantees on Hormuz and nuclear.
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