The US Treasury Department has issued a temporary general license permitting the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products.
The authorization, which runs through August 21, marks a significant shift in US energy policy and removes a key supply constraint from global markets.
The move fulfills a commitment made under a broader agreement reached between Washington and Tehran last week.
By lifting sanctions on Iranian exports for a 60-day period, the US aims to stabilize energy markets while diplomatic efforts continue toward a final peace deal.
The license allows Iranian oil to re-enter global supply chains, potentially adding significant volume to a market that has been tight due to geopolitical tensions.
Energy traders are likely to view the development as a near-term supply boost, which could exert downward pressure on Brent crude prices.