The United States has temporarily eased sanctions on Iran by issuing a 60-day general license authorizing the production, sale, and export of Iranian crude oil, petroleum products, and petrochemicals through August 21. The move follows a memorandum of understanding between Washington and Tehran aimed at advancing a final peace agreement, as reported by Reuters.
According to U.S. officials, the sanctions relief is linked to Iran’s commitments to allow international nuclear inspections and ensure free navigation through the Strait of Hormuz. The license also permits related banking, insurance, transportation services, and payments in U.S. dollars. The measure marks a significant shift in U.S. policy toward Iranian oil exports, which have faced extensive restrictions for decades.