WASHINGTON — The US Treasury Department on Monday issued a two-month waiver for Iranian oil sales following an initial round of talks between Iran and the United States. The so-called general license authorizes the production, delivery and sale of crude oil and petrochemical and petroleum products of Iranian origin through Aug. 21.Independent refineries called teapot facilities concentrated in China’s Shandong province are the primary buyers of Iranian crude. A senior Trump administration official briefing reporters last week defended the move to waive sanctions, saying the US restrictions weren't preventing Iran from exporting oil to China but instead forcing it to sell at a steep discount through opaque channels. “It’s not that significant in the scheme of things," an official said. "They were able to [sell oil] anyway by opening the strait, so we thought that was actually a fair concession to give them, as it also helps bring down global oil prices."The waiver does not approve transactions involving North Korea, Cuba or Russian-occupied Ukraine. This is a developing story and will be updated.