n a major shift in Middle Eastern energy and security dynamics, the US Department of the Treasury on Monday issued a temporary 60-day general license authorising transactions related to the production, delivery, and sale of Iranian crude oil, petrochemicals

Iranian supertankers have switched on their transponders, after going dark during the war, as they depart the region loaded with oil.

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…