Treasury Department authorizes Iranian oil sales under 60-day license
The waiver follows a framework deal that could let Iran export about 1.5 million barrels a day while talks continue toward a broader settlement.
- 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.
225 Articles
225 Articles
US lifts Iran sanctions for 60 days following peace roadmap agreement
BUERGENSTOCK, June 23— The United States waived sanctions on Iran for 60 days from Monday after the first talks under a nascent peace deal, while officials reported a sustained lull in fighting in Lebanon under the agreement aimed at ending hostilities across the region.The developments followed a weekend that had appeared to put the week-old accord in jeopardy, including threats from US President Donald Trump to restart the war if Iran disrup…
US eases oil sanctions on Iran
The US eased oil sanctions on Iran on Monday after Washington insisted the Islamic Republic had agreed to resume UN nuclear inspections, though Tehran said it made “no new commitments.” Iran cited “major progress” after all-night talks, and the US vice president touted “a very good foundation for a successful final deal,” raising hopes that an agreement could be reached before the 60-day deadline. But dueling claims over the nuclear inspections …
US Temporarily Lifts Sanctions on Iranian Oil
The Treasury Department on Monday issued a 60-day license allowing the production, delivery, and sale of Iranian oil as part of the preliminary U.S.-Iran deal signed last week. Iran stands to reap significant financial rewards from the reprieve, which represents a sharp reversal of U.S. policy. Most importantly, it clears a path for the country to export its oil at market rates after many years of being forced to sell at a discount to find buyer…
Middle East experts warn Trump administration is surrendering leverage with Iran oil waiver
Former White House officials and Middle East experts are expressing concern over the Trump administration’s move to lift sanctions on Iranian oil sales through August, warning that Tehran will gain significant revenue it could use for malign activities before it demonstrates concrete progress on its diplomatic commitments. On Monday, the U.S. Treasury Department issued a temporary 60-day license authorizing the production, delivery and sale of I…
Oil falls as US waives Iranian sanctions and Nasdaq tumbles
NEW YORK: Crude prices fell Monday (Jun 22) after the US said it is temporarily lifting sanctions on Iran to allow it to export oil, while the Nasdaq retreated on concerns after AI investments by SpaceX and other tech giants.US Vice President JD Vance said a
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