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US eases Iran oil sanctions following Bürgenstock talks

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Staff Reporter

9 minutes ago

WASHINGTON DC: The United States Treasury Department today issued a general license permitting the production, export, and sale of crude oil, and related petro- and petroleum products of Iranian origin.

Treasury Secretary Scott Bessent said the license will extend until August 21st. In his posting on X, Bessent commented that “in a step to make sure that, as we continue the productive talks in Switzerland leading toward a framework over the next 60 days, to achieve a final deal, Iran has committed to open passage through the Strait of Hormuz and permitting International Atomic Energy inspections.

He said, “In a step to ensure that as we continue the productive talks in Switzerland toward a framework to a final deal to get a signed final deal, Iran has agreed to secure free and open passage through the Strait of Hormuz and will permit International Atomic Energy inspections.”

Vance said. “Bregenstock negotiators achieved the task of laying a strong foundation for the completion in the coming weeks of a deal with Iran,” he said.

The USA works for the safety measures in the process of unfreezing Iran’s assets that will go to the Iranian people, but will not be spent on terrorist activities. The US vice president said he looks forward to inspections by the IAEA that will begin very soon, and potentially in days.