U.S. grants temporary sanctions waiver for Iranian oil
U.S. Treasury Secretary Scott Bessent said Washington has issued a 60-day general license allowing the production, shipment, and sale of Iranian oil. He described the move as part of a memorandum of understanding signed with Tehran.
In a post on X, Bessent said Iran had, for its part, pledged in talks in Switzerland to “allow free and open passage in the Strait of Hormuz, and also allow inspectors of the International Atomic Energy Agency (IAEA) to enter the country.” The announcement ties the oil waiver to reciprocal commitments on maritime access and nuclear oversight.
The license is temporary and sets a two-month window for the authorized oil activity. No further details were provided about implementation or enforcement beyond the terms described by Bessent.
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