The US Treasury Department issues a general license for Iran that authorizes the production, delivery and sale of crude oil and petrochemical and petroleum products of Iranian origin through August 21.
Under the memorandum of understanding signed last week between Washington and Tehran, the United States agreed to issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking transactions, insurances and transportation.
Transactions authorized in today’s general license include importation of Iranian-origin crude oil, petrochemical and petroleum products to the United States.
It does not authorize transactions involving North Korea or Cuba.
Confirming that the US was temporarily lifting sanctions on Iran to allow it to produce, sell and deliver crude oil and related products, US Treasury Secretary Scott Bessent cites Tehran’s commitment to “free and open transit” in the Strait of Hormuz and permission for IAEA inspectors to enter the country.
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Monday, June 22, 2026
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