People enjoy the beach in May as a vessel is seen waiting to cross the Strait of Hormuz in the Arabian Sea off Muscat, Oman. On Monday, the U.S. Treasury Department said that it authorized sales of Iranian oil for 60 days amid ongoing talks between the two countries. Photo by Ismael Mohamad/UPI | License Photo
June 22 (UPI) -- The U.S. Treasury Department on Monday authorized sales of Iranian oil through Aug. 21 after "ongoing productive talks in Switzerland" between the United States and Iranian governments, Treasury Secretary Scott Bessent said.
The general license authorizes the "production, delivery and sale" of Iranian oil, Bessent said. It allows the United States to import oil and refined products, which can be paid for in U.S. dollars.
Bessent also said that, as part of the framework, "Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency inspectors into their country."
This comes after a weekend of mixed messages on the strait. Iran said it closed the waterway over the weekend; the U.S. Central Command, however, said that it had not been closed. Vice President JD Vance said Monday that the two countries made "great progress" in talks over the weekend.
