WANA (Jun 22) – The U.S. Department of the Treasury has announced the issuance of a license permitting Iran to sell its crude oil, petrochemical products, and refined petroleum products until August 21, 2026. The move comes as further details emerge regarding the recent negotiations in Switzerland and the implementation of provisions contained in the memorandum of understanding between Tehran and Washington.

 

According to the Treasury Department, the license covers the sale of Iranian crude oil, petrochemical products, and petroleum derivatives and will remain valid through August 21, 2026. Washington also stated that imports of Iranian crude oil, petrochemical products, and refined petroleum products into the United States are authorized under the terms of the license.

U.S. Issues License Allowing Official Sales of Iranian Oil Through August 2026

Meanwhile, the final statement issued by the media committee of the “Minab 168” negotiating team following the Bürgenstock talks noted that, pursuant to Article 10 of the memorandum of understanding, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) had issued documents suspending sanctions on Iran’s oil, petrochemical, and petroleum-derivative sectors for a period of 60 days.

 

According to the statement, the measure allows Iran to officially export its oil and related products and receive the proceeds through formal banking channels under mechanisms overseen by the Central Bank of Iran.

 

Earlier today, Al Jazeera quoted Iranian Foreign Minister Abbas Araghchi as saying that exemptions had been granted for Iran’s oil exports, the blockade had been lifted, and part of the country’s frozen assets had been released. Araghchi also stated that reconstruction initiatives had begun across Iran.