US Grants 60-Day Waiver For Iranian Oil Sales Following Progress In Talks

US wields Hormuz Strait access to press Tehran on nuclear limits and sanctions

Treasury Secretary Scott Bessent cited Iran's commitment to keeping the Strait of Hormuz open to shipping and permitting IAEA inspections as key factors behind the sales authorization.

Iran has secured what many see as its biggest economic breakthrough in decades after the United States authorized a temporary 60-day license covering the production, delivery and sale of Iranian oil and petrochemicals.

The Trump administration temporarily lifted oil sanctions against Iran on Monday in a sharp reversal of U.S. policy that could provide Iran with an economic boon after years of having to sell at a discount to buyers who risked running afoul of the United States.