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OfficialDiplomacy & politicsWashington, D.C., United States

Treasury licenses sales of Iranian oil through August 21

Mountain Time
Local time
9:35 AM in New York
Where
Washington, D.C., United States

The Treasury issued a general licence authorising the production, delivery and sale of Iranian-origin crude oil, petrochemicals and petroleum products through August 21. Treasury Secretary Scott Bessent said Iran had committed to free and open transit of Hormuz and to admit IAEA inspectors, though Iran later said inspections would come only with a final deal.

Why it matters

It was the main economic benefit Iran received under the memorandum; Washington revoked it on July 7 after new attacks on ships.

Sources (3)

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