The US Treasury Department has issued a temporary general license authorizing the production, delivery, and sale of Iranian crude oil.
The 60-day authorization, announced on Monday, allows Iranian exports to resume while diplomatic talks continue toward a final peace agreement between Washington and Tehran.
The move effectively lifts the immediate supply constraint imposed by sanctions, signaling a potential shift in global crude availability.
Markets are likely to factor in the prospect of increased Iranian supply over the coming months, which could exert downward pressure on benchmark prices if production ramps up as expected.
Treasury Secretary Scott Bessent confirmed the authorization, noting it is part of a broader framework designed to de-escalate tensions.
The license extends through August, providing a window for both sides to finalize the underlying political deal.