/Agencia Reuters
The United States Department of the Treasury recently authorized the production, delivery and commercialization of crude oil, as well as petroleum derivatives and petrochemicals of Iranian origin. This general license, which will be in effect until August 21, fulfills what was promised in the agreement reached by Washington and Tehran last week, while both parties continue talks to achieve a definitive peace treaty.
“In line with the productive conversations taking place in Switzerland, Iran has committed to allowing free and open transit through the Strait of Hormuz, as well as the entry of inspectors from the International Atomic Energy Agency (IAEA) into its country,” said U.S. Treasury Secretary Scott Bessent in a post on X.
“As part of this framework, the Treasury has issued a temporary 60-day general license authorizing the production, delivery and sale of Iranian oil,” he added.
Under the memorandum of understanding signed last week between Washington and Tehran, the United States agreed to grant exemptions for the export of Iranian crude oil, petroleum products and derivatives, as well as for all associated services, including banking transactions, insurance and transportation.
The transactions authorized in the general license of Monday, June 22 include the importation into the United States of crude oil, as well as petroleum products and petrochemicals of Iranian origin.
The license states that Iranian oil may be imported into the United States under this exemption when necessary to complete its sale or delivery.
However, the measure does not authorize transactions involving North Korea or Cuba, countries heavily sanctioned by the North American nation.
