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Energy — Economy — Politics — Iran

Iranian Oil Trade Gets Temporary U.S. Approval Through August

Treasury Secretary Scott Bessent said the move is part of a broader diplomatic framework aimed at advancing a long-term agreement between the two countries.

,   and  TIPP Staff
2 min read
Pic via @TheRightTrader

The Trump administration has temporarily authorized Iranian oil sales through August 21 following what officials described as productive negotiations between Washington and Tehran in Switzerland.

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Treasury Secretary Scott Bessent said the U.S. issued a 60-day general license allowing the production, delivery and sale of Iranian oil. According to Bessent, the move is part of a broader diplomatic framework aimed at advancing a long-term agreement between the two countries.

Vice President JD Vance said the talks produced significant progress, including Iran’s agreement to allow inspectors from the International Atomic Energy Agency to return. Bessent also said Tehran committed to maintaining open transit through the Strait of Hormuz.

The report said the U.S. Navy lifted its blockade of Iranian ports last week, prompting Iranian oil tankers to resume visible operations. Iranian oil exports had fallen sharply after restrictions were imposed in April.

According to Kpler data, shipping activity through the Strait of Hormuz remains below prewar levels despite a recent increase in vessel traffic.

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