The US Treasury Department has issued a temporary general license authorizing the production, delivery, and sale of Iranian crude oil for a 60-day period.
The authorization, announced on Monday, extends through August and permits Iranian exports to resume while diplomatic efforts proceed.
Treasury Secretary Scott Bessent confirmed the decision, citing progress in what he described as productive peace talks in Switzerland.
The move represents a significant shift in US energy policy toward Iran, temporarily lifting sanctions that have constrained Tehran’s ability to export oil to global markets.
By allowing Iranian crude back into the supply chain, the license aims to stabilize global oil prices and reduce volatility in energy markets.
The decision comes amid broader geopolitical efforts to de-escalate tensions in the Middle East.