politics
U.S. issues 60-day license allowing Iran to sell oil in dollars
The Treasury Department issued a temporary license Monday permitting dollar-denominated Iranian oil sales through August 21. The step is part of a preliminary ceasefire agreement that also covers Strait of Hormuz transit and IAEA inspections.
gamereactor.euAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
The Treasury Department issued a 60-day license on Monday that allows Iran to sell crude oil, petrochemicals, and petroleum products for payment in U.S. dollars through August 21.
Background on sanctions relief The waiver forms part of a preliminary U.S.-Iran agreement signed last week that opened a 60-day window for further talks. Officials said the license implements terms outlined in that memorandum of understanding. Iran had previously relied on alternative currencies and a shadow network to export oil, mainly to China, which buys roughly 90 percent of its shipments.
Negotiations and next steps Treasury Secretary Scott Bessent stated the license aligns with “productive talks” held in Switzerland over the weekend. ” Vice President Vance said Iran has agreed to allow IAEA inspectors to return, though final terms remain under negotiation.
Officials indicated further sanctions relief will depend on Tehran’s compliance with commitments under the preliminary deal.
