The U.S. Treasury Department issues a temporary 60-day “general license” that allows Iranian oil exports and sales, lifting restrictions that normally apply to the commodity. Multiple outlets report the move follows and is tied to diplomatic talks between the United States and Iran taking place in Switzerland. According to The Hill, Iran commits to free and open transit in the Strait of Hormuz and to permit international inspections related to oil shipments, aligning with provisions referenced in the broader understanding between the two countries. The Washington Times likewise links the authorization to a memorandum of understanding signed between Washington and Tehran, describing the licensing step as one of the provisions in that agreement. CNBC and Yahoo News report the authorization broadly as a Treasury action permitting Iranian oil sales under the 60-day license, without adding materially different details. The license is presented as temporary and time-limited, effective for 60 days, while the underlying negotiations continue.