The U.S. Department of the Treasury has issued a “General License” authorizing the production, sale, transport, and discharge of crude oil, petrochemical products, and petroleum derivatives of Iranian origin until August 21.
Under this license, all transactions and services essential to the production, sale, and transit of these products, including insurance, ship management, crewing, bunkering, vessel registration and flagging, and maritime salvage operations, will be permitted.
The text of the license states that vessels previously placed on the U.S. sanctions list due to their connections to the Islamic Republic are also permitted to participate in the transport and transfer of Iranian crude oil, petrochemical products, and petroleum derivatives under this framework.
The U.S. Treasury Department further announced that the importation of crude oil, petrochemical products, and petroleum derivatives of Iranian origin into the United States will also be permissible, provided it is part of an authorized sale, delivery, or discharge process.
The issuance of this license comes as negotiations between Iran and the United States continue in Switzerland, with officials from both countries reporting progress on several disputed issues.
