US Treasury Secretary: we issued two-month license authorizing supply, sale of Iranian oil

US Treasury Secretary Scott Bisent said today that his country has issued a temporary 60-day general license authorizing the production, supply, and sale of Iranian oil, as part of the implementation of the memorandum of understanding signed last week between Washington and Tehran to end the trade war between the two sides.

The US Treasury Department explained that the general license regarding Iran allows the production, delivery, and sale of crude oil and petrochemical and petroleum products of Iranian origin until August 21.

Under the memorandum of understanding signed last week between Washington and Tehran, the United States agreed to issue waivers for the export of Iranian crude oil, petroleum products, derivatives, and all related services, including banking, insurance, and transportation.

The U.S. Treasury Department stated that the transactions authorized under the new U.S. general license include the import of crude oil, petrochemicals, and petroleum products into the United States.

The department added that the license does not authorize transactions involving North Korea, Cuba, and Ukraine.

The U.S. Secretary of the Treasury said that Tehran has committed to freedom of navigation in the Strait of Hormuz and to allowing International Atomic Energy Agency (IAEA) inspectors access to its territory.

ANHA