The U.S. Treasury has issued a temporary license allowing the sale of Iranian oil until August 21, effectively waiving sanctions on the Islamic Republic's oil exports. The move comes amid reported progress in US-Iran talks in Switzerland, following earlier hints by Treasury Secretary Scott Bessent that a broader deal could be imminent.
The U.S. Treasury Department has issued a temporary license under the Office of Foreign Assets Control (OFAC) that permits the sale of Iranian oil until August 21, 2026. The license, published Monday at 17:00 Jerusalem time — the same day the thread unfolded — formalizes a 60-day sanctions waiver first reported less than an hour earlier. The move follows Treasury Secretary Scott Bessent's statement earlier Monday that the emerging US-Iran deal could be signed soon.
The thread began at 16:19 Jerusalem, when multiple versions appeared nearly simultaneously: initial reports of a 60-day waiver (versions 1-4), followed by Bessent's X post confirming Iran's commitments on IAEA access and Strait of Hormuz navigation (version 11), the formal OFAC license (version 13), and the explicit expiration date of August 21 (version 14). The rough simultaneity suggests coordinated official announcements rather than sequential leaks. At 16:58 Jerusalem, The Zioneer reported the waiver citing progress in Switzerland talks. The just-released OFAC license now supplies the exact expiration date.
As The Zioneer reported on Tue Jun 16, the Wall Street Journal had detailed an emerging agreement including immediate oil and banking sanctions relief. On Thu Jun 18, Iran's foreign ministry said sanctions lifting had begun. Over the weekend, VP Vance said an IAEA visit to Iran was expected this week.
The full scope of the license — volume limits, eligible buyers, and terms of payments — has not been publicly detailed. The broader US-Iran agreement remains unfinished, with discussions continuing over nuclear limits, Strait of Hormuz freedoms, and regional security arrangements.
13 developments
- DevelopingSenior Iranian source: US naval blockade on ports has been lifted
- StrongWSJ: US-Iran deal to include immediate sanctions relief on oil and banking
- StrongCENTCOM says it has fully lifted the naval blockade on Iran
- ConfirmedU.S. and Iran reportedly near agreement on nuclear freeze, sanctions relief, and Strait of Hormuz reopening
Source and signal
- Internal intake