The United States has lifted sanctions on Iranian oil until August 21, in accordance with the agreement reached on the memorandum of understanding signed with Tehran last week.

Lifting Restrictions on Iranian Oil Exports

The U.S. Department of the Treasury announced that all Iranian oil transactions, which were previously suspended, preventing the country from selling a single barrel of oil, are no longer restricted as of today. Iran can produce and dispatch oil to global markets until August 21.

The Authorization Is Granted for 60 days

Scott Bessent, the U.S. Secretary of the Treasury, indicated that the authorization decision is for a duration of 60 days. This comes as a result of the productive discussions that took place in Switzerland between his country's delegation and Iran.

Just today, Hamid Hosseini, the spokesperson for the Iranian Oil, Gas, and Petrochemical Products Exporters' Union, stated during Channel8's news bulletin that in the Switzerland negotiations, the Americans had promised to lift the embargo on the sale of Iranian oil, allowing the oil aboard vessels to be exported without creating obstacles to its sale.