The Trump administration has issued a broad 60-day waiver easing key sanctions on Iran's oil sector, marking the most significant rollback of American energy restrictions since the 1979 Islamic Revolution.
According to the U.S. Treasury, the exemption allows Iran to produce, sell and receive payments for crude oil, petroleum products and petrochemicals in U.S. dollars through August 21.
Analysts cited in the report said the waiver could unlock roughly 67 million barrels of Iranian crude currently held in storage, potentially generating $8 billion to $9 billion in revenue for Tehran.
President Donald Trump said the profits were intended to help Iran purchase American agricultural products rather than strengthen its military. The waiver also simplifies payment channels, enabling Iran to receive oil proceeds directly through its central bank.
Analysts expect China, which currently buys about 90% of Iran's oil exports, to remain the primary beneficiary of increased Iranian crude availability, although buyers are still reviewing compliance requirements before significantly expanding purchases.
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U.S. issues sweeping Iran oil sanctions waivers, unlocking billions in revenue for Tehran https://t.co/wOY4fMnbH3
— CNBC (@CNBC) June 23, 2026
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