The US Treasury Department has issued a general license allowing Iran to produce, deliver, and sell crude oil, petrochemicals, and oil products. The authorization from the Office of Foreign Assets Control (OFAC) is valid until August 21, 2026, and also covers previously sanctioned vessels that may transport Iranian oil during this period.
US Treasury Secretary Scott Bessent confirmed the 60-day exemption. The license also permits dollar payments for the purchase of Iranian raw materials – even if the buyer is under sanctions. According to Bessent, Iran agreed during the talks in Geneva to meet several key conditions, prompting the US to temporarily ease restrictions.
After the license expires, Tehran is expected to negotiate a mechanism with Oman and the Gulf states to manage the Strait of Hormuz. In the future, fees could be charged for passage through the strategic waterway. The temporary release of Iranian oil exports could stabilize the global energy market, as Iran would supply additional volumes and opening the Strait of Hormuz would ease supply from Gulf states.
Source: 24tv.ua
