The United States has temporarily eased sanctions on Iranian oil exports following what officials described as productive discussions between Washington and Tehran aimed at reaching a broader peace agreement.
According to the U.S. Treasury Department, a 60-day general license has been issued allowing the production, delivery and sale of Iranian crude oil, petroleum products and petrochemicals while negotiations continue.
U.S. Treasury Secretary Scott Bessent said the move is part of ongoing diplomatic efforts and is intended to support progress toward a final agreement. The temporary waiver is expected to remain in effect until August 21.
The sanctions relief also covers certain services linked to Iranian oil exports, including banking, insurance and transportation, according to reports.
The development comes as U.S. and Iranian officials continue talks in Switzerland, with both sides reporting progress on several issues, including maritime security and regional stability.
While the measure represents a significant easing of restrictions, it is temporary and does not amount to a full lifting of U.S. sanctions on Iran.
The announcement contributed to a decline in global oil prices amid expectations of increased Iranian oil supplies reaching international markets. (Newswire)
