The US Treasury Department has issued a temporary general license permitting the production, delivery, and sale of Iranian crude oil and petrochemical products for a period of 60 days.
The authorization, which runs through August 21, is designed to facilitate ongoing negotiations between Washington and Tehran by allowing Iranian exports to resume during the diplomatic process.
Treasury Secretary Scott Bessent confirmed the move, stating that the license was issued to support the advancement of talks.
The decision marks a significant shift in the immediate regulatory environment for Iranian energy exports, effectively lifting the ban on sales for the duration of the license.
This development provides a clear, albeit temporary, pathway for Iranian barrels to reach global markets, reducing the immediate risk of supply disruption associated with the country's isolation.
For energy markets, the license introduces a new variable in the supply-demand balance.