finance
U.S. Issues 60-Day License for Iranian Oil Sales
The Treasury Department authorized limited Iranian crude sales through August 21, 2026. Iran agreed to allow IAEA inspectors and free transit through the Strait of Hormuz during ongoing talks in Switzerland.
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The license runs through August 21, 2026, and covers importation of Iranian-origin crude, according to the department.
Diplomatic Context Vice President J.D.
Vance said Iran has committed to free transit in the Strait of Hormuz and to permit IAEA inspectors into the country. Vance added that technical teams from both sides remain in Burgenstock, Switzerland, after an initial 18-hour round of talks.
Vance said he expects conversations with IAEA inspectors to begin this week. He noted that a mechanism to keep the Strait of Hormuz open has been established, while further negotiations continue toward a potential long-term nuclear agreement.
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