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US partially lifts Iran oil sanctions amid ‘encouraging’ talks

The US Treasury Department has issued a 60-day license authorizing the sale of Iranian oil. This move follows a first round of talks described as encouraging and productive. The relief is linked to an emerging nuclear framework and efforts toward a final peace deal.

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What changed

The US Treasury has implemented a 60-day waiver on Iranian oil sanctions to facilitate sales.

Live updates

  1. US Partially Lifts Iran Oil Sanctions Following Progress in Talks

    The US Treasury Department has issued a 60-day license authorizing the sale of Iranian oil. This move follows a first round of talks described as encouraging and productive. The relief is linked to an emerging nuclear framework and efforts toward a final peace deal.

    What's confirmed:

    • The US Treasury Department issued a 60-day license for Iranian oil sales.
    • The sanctions relief allows for the sale of crude oil, petrochemicals, and petroleum products.
    • Vice President JD Vance described the talks as a "good day" and stated there is a "good foundation" for a final deal.
    • WTI crude fell below $74 following the announcement of the sanctions waiver.

    Still unconfirmed:

    • Tehran disputes Vance's claims regarding nuclear inspections.
    • The deal includes commitments for free transit through the Strait of Hormuz.
    confidence 90%