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Washington.- The U.S. Department of the Treasury issued a license on Monday authorizing for 60 days the sale of oil produced by Iran, after describing the peace negotiations in Switzerland as “productive” and highlighting Tehran’s commitment to guarantee traffic through the Strait of Hormuz.
n” “nThe decision by President Donald Trump’s administration opens a window until August 21 to produce, sell, transport, and import crude oil, petrochemical products, and other Iranian petroleum derivatives, even though the main economic sanctions against Tehran remain in effect.
n” “nThe license expressly excludes transactions involving persons or entities from North Korea, Cuba, Crimea, and the pro-Russian controlled eastern Ukrainian territories.
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n” “nThe Treasury Secretary, Scott Bessent, indicated on X that “in line with the productive conversations taking place in Switzerland, Iran has committed to ensuring free and open transit in the Strait of Hormuz and to allowing the entry of inspectors from the International Atomic Energy Agency (IAEA) into its territory.”
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nn” “n“As part of this framework, the Department of the Treasury has issued a 60-day temporary general license authorizing the production, supply, and sale of Iranian oil,” Bessent reported regarding the measure, which is included in the memorandum of understanding signed between both countries as a path toward a definitive peace agreement.
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This very Monday, US Vice President JD Vance assured from Bürgenstock (Switzerland) that “very good progress” was made on Sunday regarding negotiations with Tehran, and stated that “the Strait of Hormuz is open” and that the IAEA will be able to enter Iran.
n” “nAfter reaching a framework agreement, the U.S. lifted the blockade on Iranian ports and coasts last week, which had been imposed last April to pressure the Islamic Republic, whose economy depends on oil.
n” “nBefore the imposition of the U.S. blockade, Iran used to load more than 1.5 million barrels per day for export. Last May, that volume fell to 260,000 barrels per day, according to an analysis by the CNBC network.
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The Iranian delegation left Switzerland this Monday, while the technical teams from both countries will continue discussions throughout the week regarding the implementation mechanisms of the memorandum of understanding.
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