New York : In a major shift in Middle Eastern energy and security dynamics, the US Department of the Treasury on Monday issued a temporary 60-day general license authorising transactions related to the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products.
The move follows a significant diplomatic breakthrough aimed at easing regional tensions and reopening the critical Strait of Hormuz.
The newly issued general licence permits all operations related to the extraction, transport, and trade of Iranian-origin petroleum and petrochemical products.
According to official documentation, "all transactions" previously restricted under US sanctions regarding these activities are authorised until 12:01 a.m. Eastern Daylight Time on 21 August 2026.
This development aligns with commitments to provide waivers for the export of Iranian oil and derivatives, alongside essential supporting services, including insurance, maritime transport, and financial processing.
