The United States has lifted restrictions on Iranian oil sales
US Treasury Secretary Scott Bessent confirmed on his X (formerly Twitter) social media account that the United States has lifted restrictions on Iranian oil sales for a period of 60 days, following what he described as "productive talks" between Iranian and US delegations in Switzerland.
As part of that dialogue, the Treasury Department issued a temporary general license authorizing the production, delivery, and sale of Iranian oil. "We have issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil," Bessent wrote, signaling a significant but short-term shift in US policy.
The license, however, includes specific exclusions. It states that restrictions continue to apply to legal entities located in the Democratic People's Republic of Korea (North Korea), the Republic of Cuba, as well as entities based in or organized under the laws of Donbass, Crimea, and Novorossiya — reflecting ongoing US sanctions against those regions.
At the same time, the license permits buyers to make payments for Iranian oil and petroleum products in US dollars, a move that could ease financial transactions and potentially increase the flow of Iranian crude to global markets. The 60-day window is seen as gesture aimed at reducing tensions and exploring the possibility of broader negotiations between the two countries.
