The US Treasury Department announced today (Monday) temporary relief from sanctions against Iran.
Most of the relief concerns Iranian crude oil.
According to the Iran General License issued today, all transactions prohibited under several government sanctions regulations have been permitted until August 21. The permit includes all activities related to or necessary for the production, sale, transportation or unloading of crude oil, petrochemical products and petroleum products of Iranian origin, including vessels prohibited under the various sanctions.
Following the announcement of the sanctions relief in light of the memorandum of understanding, US Treasury Secretary Scott Bassent tweeted: "Under President Trump and Vice President Vance, we continue to make the world a safer and more prosperous place. In accordance with the ongoing and productive talks in Switzerland, Iran has committed to free and open navigation in the Strait of Hormuz and to allow IAEA inspectors to enter their country. As part of the agreements, the Treasury Department has issued a 60-day general license for the production, transport, and sale of Iranian oil.".
