United States OKs Iranian oil sales for 60 days
· UPIJune 22 (UPI) -- The U.S. Treasury Department on Monday authorized sales of Iranian oil through Aug. 21 after "ongoing productive talks in Switzerland" between the United States and Iranian governments, Treasury Secretary Scott Bessent said.
The general license authorizes the "production, delivery and sale" of Iranian oil, Bessent said. It allows the United States to import oil and refined products, which can be paid for in U.S. dollars.
Bessent also said that, as part of the framework, "Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency inspectors into their country."
This comes after a weekend of mixed messages on the strait. Iran said it closed the waterway over the weekend; the U.S. Central Command, however, said that it had not been closed. Vice President JD Vance said Monday that the two countries made "great progress" in talks over the weekend.
Iranian supertankers have switched on their transponders after going dark during the war, CNBC reported. Iran loaded more than 1.5million barrels a day for transport before the U.S. blockade on Iranian ports took effect in April. That decreased to 260,000 barrels a day during the blockade, which lifted Thursday.
The agreement with the United States says that Iran must allow ships to travel the strait without tolls for 60 days. Tolls may be imposed after that, as Iran is supposed to discuss the strait's administration with Oman and the Gulf states.