Iran's Ministry of Foreign Affairs announced that sanctions on the country's oil exports are beginning to be lifted tonight, according to Iranian state-linked reports. The move marks the implementation phase of a reported US-Iran understanding, following days of Iranian claims about sanctions relief and talks.
Iran's Foreign Ministry announced in a statement tonight that sanctions on the country's oil exports are beginning to lift, signaling the first concrete implementation phase of the recently reported US-Iran understanding.
The announcement follows days of competing claims from Tehran: on Wednesday, the ministry said the US had committed to removing all sanctions, with a timeline to be set in upcoming talks. Earlier Thursday, the ministry stated that the US had effectively begun lifting its naval blockade on Iranian ports. The Wall Street Journal reported earlier this week that any deal would include immediate sanctions relief on oil and banking upon signing, with broader relief conditioned on Iran's compliance on the Strait of Hormuz and nuclear issues.
The precise scope of tonight's sanctions relief remains unclear — Iran's Foreign Ministry did not specify which restrictions are being lifted, and there has been no immediate confirmation from Washington. As The Zioneer reported earlier this week, central bank officials have stated that proceeds from resumed oil sales will be held by the central bank.
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