Washington has granted Iran a 60-day waiver on oil sanctions, permitting the nation to produce, export, and sell its crude until August 21. This move, part of an interim deal to de-escalate tensions, offers significant relief to Iran's energy sector. The decision could boost Iranian oil shipments, potentially alleviating global supply worries and stabilizing energy costs.

US-Iran MOU lifts oil export sanctions, ends naval blockade, and opens a 60-day window for a comprehensive deal including a $300B reconstruction fund.

The United States temporarily suspended sanctions on Iranian oil on Monday after Vice President JD Vance said Iran would let UN nuclear inspectors return to the country, following…