Treasury Department authorizes Iranian oil sales through August

CNBC June 22, 2026 2 views

The U.S. Treasury Department has authorized the production, delivery and sale of Iranian oil for 60 days.
Treasury Secretary Scott Bessent said the authorization comes after "productive talks" between Tehran and Washington in Switzerland.
The U.S. Navy on Thursday lifted its blockade of Iran's ports and coastal areas.

The U.S. on Monday authorized Iranian oil sales through August after "productive talks" between Tehran and Washington in Switzerland over the weekend, Treasury Secretary Scott Bessent said.
"As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil," Bessent said in a
social media post. The authorization expires on August 21 unless it is renewed.
Vice President JD Vance said earlier Monday that "great progress" was made during the talks in Switzerland, despite Iran's declaration over the weekend that it had closed the Strait of Hormuz. U.S. Central Command said Hormuz had not been closed.
Vance said Iran agreed to allow weapons inspectors from the International Atomic Energy Agency back into the Islamic Republic. Bessent said Tehran committed to free and open transit through Hormuz.
The U.S. Navy on Thursday lifted its blockade of Iran's ports and coastal areas. Iranian supertankers have switched on their transponders, after going dark during the war, as they depart the region loaded with oil.
This is breaking news. Please refresh for updates.
<small>Source: CNBC</small>

How did this make you feel?