WASHINGTON: The United States authorized Iranian oil sales on Monday, easing decades-old sanctions as it pushes toward a final peace deal with Tehran in return for commitments on nuclear inspections and free transit through the Strait of Hormuz.
The general license, announced by the Treasury Department, allows the sale of crude oil and petrochemical and petroleum products of Iranian origin through August 21.
The license says Iranian oil can be imported into the US when necessary to complete its sale, delivery or offloading. The US has not meaningfully imported Iranian oil since Washington imposed measures after the 1979 revolution.
“In line with the 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 (IAEA) inspectors into their country,” Treasury Secretary Scott Bessent wrote on X.
“As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery and sale of Iranian oil.”
