The U.S. Treasury Department issues a temporary 60-day “general license” that authorizes Iranian oil sales, according to multiple reports. The license temporarily lifts restrictions that normally apply to transactions involving Iranian oil under U.S. sanctions.
The Hill reports that the move is tied to ongoing talks involving the United States and Iran in Switzerland. It says Iran commits to free and open transit through the Strait of Hormuz and to permit international inspectors access to relevant facilities, as part of the negotiations.
CNBC similarly reports that Treasury authorizes Iranian oil sales under a 60-day license. However, the brief summaries available here do not specify the exact scope of permitted volumes, buyers, or compliance requirements beyond the general authorization and the duration.
Taken together, the sources indicate that the U.S. is using a temporary sanctions adjustment to permit limited Iranian oil commerce while negotiations continue, with the licensing period capped at 60 days.
