US Grants 60-Day License for Iranian Oil Exports as Peace Talks Advance

The US Treasury has issued a 60-day general license for the sale and delivery of Iranian crude oil, petrochemicals, and petroleum products through August 21. This move temporarily eases long-standing sanctions while Washington and Tehran hold diplomatic talks in Switzerland on a final peace agreement. Under the interim framework, Iran has agreed to allow IAEA inspectors into the country and guarantee free transit through the Strait of Hormuz. The waiver covers necessary banking, insurance, and transportation services for the agreed deliveries. Heavily sanctioned regions such as Cuba, North Korea, and Crimea are excluded from the authorization. Global energy markets responded immediately, sending oil prices to their lowest levels since before this year’s regional hostilities. The decision reflects a broader memorandum of understanding that extends a fragile ceasefire and reopens the critical shipping lane.

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