“In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country,” Secretary Scott Bessent wrote on his X account.
“As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil,” he further stated.
Under the license, all transactions and services essential for the production, sale, and transport of these products will be permitted. This includes insurance, vessel management, crewing, bunkering, vessel registration and flagging, as well as maritime salvage operations.
The license also allows the import of Iranian-origin crude oil, petrochemical products, and petroleum products into the United States, provided they are part of an authorized sale, delivery, or discharge process.
