economy
Treasury Department authorizes Iranian oil sales through August
Iranian supertankers have switched on their transponders, after going dark during the war, as they depart the Persian Gulf loaded with oil.
TL;DR
- The U.S. Treasury Department has issued a 60-day general license authorizing the production, delivery, and sale of Iranian oil.
- This authorization permits the import of Iranian oil and refined products into the U.S., with payments allowed in dollars.
- Iran has agreed to allow International Atomic Energy Agency (IAEA) weapons inspectors back into the country.
- Tehran has also committed to ensuring free and open transit through the Strait of Hormuz.
- Iranian supertankers have reactivated their transponders and are departing the Persian Gulf loaded with oil.
- Ship traffic through the Strait of Hormuz has increased but remains below pre-war levels.