Washington allows Iranian oil trade as US-Iran talks advance in Switzerland
Key takeaways
- Add ARY News on Google AAResize WASHINGTON: The U.S.
- “As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil.”
- Transactions authorized in Monday’s general license include importation of Iranian-origin crude oil, petrochemical and petroleum products to the United States.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize WASHINGTON: The U.S. Treasury Department authorized the production, delivery and sale of Iranian oil on Monday, a move promised under an agreement reached by Washington and Tehran last week.
The general license, announced as the two sides continue talks aimed at reaching a final peace deal, allows the production, delivery and sale of crude oil and petrochemical and petroleum products of Iranian-origin through August 21.
“In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country,” Treasury Secretary Scott Bessent said in a post on X.