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Or sign-in if you have an account.U.S. Treasury Secretary Scott Bessent listens as U.S. President Donald Trump speaks at a press conference during the G7 Leaders' Summit on June 17, 2026 in Evian-les-Bains, France. Photo by Anna Moneymaker /Getty ImagesThe Iranian regime will receive a 60-day waiver on sanctions on its oil, the Trump administration said on Monday. Amid a two-month negotiation window with the Islamic Republic after Washington and Tehran signed a memorandum of understanding, the regime is to be authorized to produce, deliver and sell “crude oil, petrochemical products and petroleum products of Iranian-origin through Aug. 21,” the Trump administration said.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Accountor“In line with ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency inspectors into the country,” wrote Scott Bessent, the U.S. treasury secretary.Columnist Jesse Kline keeps you up to date with what’s happening in Israel and the effects of antisemitism on life here in Canada. Friday mornings.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Channel Israel will soon be in your inbox.We encountered an issue signing you up. Please try again“Treasury has issued a temporary 60-day general license authorizing the production, delivery and sale of Iranian oil,” he stated. U.S. President Donald Trump departs with U.S. Secretary of State Marco Rubio (2nd-R) and U.S. Treasury Secretary Scott Bessent (R) after delivering remarks at a press conference during the G7 Leaders’ Summit on June 17, 2026 in Evian-les-Bains, France. Photo by Anna Moneymaker /Getty ImagesThe license covers transactions “ordinarily incident and necessary” to the production, sale, delivery or offloading of such oil, petrochemical or petroleum products, and docking, anchoring, repairs, environmental work, storage, insurance and other areas of business.It also relates to oil and products produced under global terrorism sanctions, in addition to other sanctions schemes.U.S. Vice President JD Vance wrapped up a second day of talks with Iran in Switzerland on Monday. Technical teams are remaining in the country in the coming days to advance talks.The negotiations come amid congressional concern, including from Republicans, that loosening sanctions and unfreezing seized Iranian assets are a repeat of mistakes made by the Obama administration as part of the original Iranian nuclear accord, from which Trump withdrew in 2018.Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. 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