Treasury Secretary Scott Bessent announced that the United States will lift sanctions on Iranian oil sales for the next 60 days in light of successful negotiations in Switzerland.
Secretaty Bessnet wrote in his X social media account:
“Under President Donald Trump and VP J.D. Vance, we continue to make the world safer and more prosperous. In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country. As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil.”
The temporary sanctions relief comes as part of the ongoing diplomatic talks between the two countries.