U.S. grants temporary sanctions waiver for Iranian oil
The United States issued a 60-day general license authorizing Iranian oil production, shipment, and sales, Scott Bessent said. He linked the waiver to a memorandum with Tehran and to Iranian pledges on the Strait of Hormuz and IAEA access.
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- Washington issued a 60-day license for Iranian oil activity.
- Scott Bessent said it is part of a memorandum with Tehran.
- Iran reportedly pledged open passage in the Strait of Hormuz.
- Tehran also agreed to let IAEA inspectors enter the country.
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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