World
US eases Iran oil sanctions until August 21
The United States Treasury Department announced on Monday that it is temporarily suspending certain sanctions on Iran, allowing the country to produce, sell, transport and deliver crude oil and related petroleum products until August 21, 2026.
According to a general license issued by the Treasury, “all transactions” previously prohibited under US sanctions that involve the production, sale, transportation or delivery of Iranian-origin crude oil and petroleum products are now permitted through 12:01 a.m. Eastern Daylight Time on August 21.
The temporary waiver provides Iran with a limited window to continue oil-related activities that had been restricted under US economic sanctions.
US Treasury Secretary Scott Bessent cited Tehran’s commitment in ongoing negotiations to “free and open transit” in the Strait of Hormuz and permission for International Atomic Energy Agency inspectors to enter their country as a reason for pausing the sanctions.
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