U.S. Eases Oil Sanctions on Iran for 60 Days Amid Nuclear Talks
The U.S. Treasury issued a temporary general license easing key oil sanctions on Iran through August 21, 2026. The move coincides with nuclear talks in Switzerland and is tied to Iranian commitments on the Strait of Hormuz and IAEA access.
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- Treasury suspended major Iran oil sanctions until August 21, 2026.
- The license covers crude, fuel products, petrochemicals, transport and insurance.
- The move aligns with 60-day nuclear talks in Switzerland.
- Iran promised open passage in the Strait of Hormuz and IAEA access.
- Scott Bessent said the deal enables Iranian oil production, transport and sales.
The U.S. Treasury Department issued a new general license on Monday that temporarily suspends a major part of the oil sanctions on Iran through August 21, 2026. The move allows a broad range of transactions tied to Iranian crude oil, fuel products and petrochemicals, including transport, insurance and related services.
The easing comes alongside nuclear talks taking place in Switzerland, within a 60-day negotiating window between Washington and Tehran. The measure is not a permanent lifting of sanctions, but a temporary general license based on Iranian commitments.
According to the information released, Iran agreed to allow free and open passage through the Strait of Hormuz and to let inspectors from the International Atomic Energy Agency enter its territory. U.S. Treasury Secretary Scott Bessent said the arrangement led the Treasury to issue a temporary general license allowing the production, transport and sale of Iranian oil.
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