Interim U.S.-Iran Deal Allows Limited Oil Exports in Exchange for Nuclear Rollback Steps

Com. 44 billion. At least three state-owned Iranian oil tankers have already departed, and dozens more loaded vessels could leave Kharg Island soon.

Benchmark Brent crude traded above $110 a barrel last month and has since fallen to around $80. The average price of a gallon of gasoline in the United States has dropped below $4. The sanctions relief allows Iran to sell oil directly rather than through a shadow fleet at discounted prices to China.

The interim deal ties further sanctions relief to Iran rolling back its nuclear program, including diluting its stockpile of highly enriched uranium. Iran agreed to downblend the material. The United States continues to demand that Iran cease enrichment entirely, a step Tehran has refused for decades.

Iranian media described the outcome as the “magnificent defeat” of the United States. Iran’s leaders project confidence that President Donald Trump will not resume hostilities, citing Iran’s ability to close the Strait of Hormuz. “It’s too much to say that Iran has emerged a victor, but it could have been much worse,” said Farzan Sabet of the Geneva Graduate Institute.

The agreement also promises a $300 billion investment fund for Iran if a final deal is reached. ” Iran is pressing for an end to Israeli attacks in Lebanon as part of the broader settlement. ” Talks scheduled for Friday in Switzerland were postponed after fighting intensified, and Vice President JD Vance’s trip was also delayed.

Iran’s economy remains under severe strain. The conflict is estimated to have eliminated at least one million jobs, with 20 percent of losses linked to a monthslong internet shutdown that authorities have now lifted. 5 million to the dollar.