US Treasury Issues 60-Day Authorization for Iran to Sell Oil

Deep News06-22 22:10

The United States has granted Iran permission to sell its oil, with the authorization valid until August, following what were described as "productive talks" between Tehran and Washington in Switzerland over the weekend, according to a statement from the US Treasury Secretary.

In a social media post, the Treasury Secretary stated: "As part of this framework agreement, the Treasury Department has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil."

Earlier on Monday, the Vice President indicated that despite Iran's announcement over the weekend that it had blocked the Strait of Hormuz, the discussions in Switzerland had made "significant progress." However, US Central Command has stated that the Strait of Hormuz has not been blocked.

The Vice President also noted that Iran has agreed to allow weapons inspectors from the International Atomic Energy Agency (IAEA) to return to the country. The Treasury Secretary added that Tehran has committed to ensuring free and open passage through the Strait of Hormuz.

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