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Last Updated:June 22, 2026, 19:41 IST
US Treasury lifts Iran oil sanctions with a 60-day license, tied to Switzerland talks and IAEA access, as Trump and JD Vance pursue Gulf peace deal.
US Treasury Secretary Scott Bessent. (image: AP)
The US Treasury on Monday said it was lifting sanctions on Iran to allow them to produce, sell and deliver crude oil and related products through August 21.
In a post on X, Treasury Secretary Scott Bessent said the decision was taken in line with the productive talks in Switzerland of the memorandum of understanding that was signed to end the ongoing war in the Guf.
“Under President Donald Trump and Vice President JD Vance, we continue to make the world safer and more prosperous. 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," he said.
Under President @realDonaldTrump and @VP, we continue to make the world safer and more prosperous.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…
— Treasury Secretary Scott Bessent (@SecScottBessent) June 22, 2026
“As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil," he added.
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News world Tehran Gets Temporary Relief As US Suspends Sanctions On Iranian Oil Until August 21
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