US eases Iran oil sanctions for 60 days as peace talks advance
Why it matters: The waiver links oil sales to nuclear inspections and open shipping through the Strait of Hormuz.
The United States authorized Iranian oil sales for 60 days on June 22, suspending key sanctions as Washington and Tehran pushed toward a final peace deal. A Treasury Department general license, valid through Aug. 21, permits the production, delivery and sale of Iranian crude, petrochemical and petroleum products, along with related banking, insurance and transport services. The waiver follows a memorandum of understanding reached last week. Treasury Secretary Scott Bessent said the framework commits Iran to allow International Atomic Energy Agency inspectors into the country and keep transit through the Strait of Hormuz free and open. Mediators said the first round of talks in Switzerland made encouraging progress.