US Authorizes Iranian Oil Sales Under 60-Day License
Oil prices had already begun to drop before Bessent's announcement, in the wake of the talks.
TL;DR
- U.S. Treasury issued a 60-day general license for Iran's oil sector.
- Authorization covers production, delivery, and sale of crude oil, petrochemicals, and petroleum products.
- The move is part of a memorandum of understanding between the U.S. and Iran.
- Waivers include associated services like banking, insurance, and transportation.