TEMPO.CO, Jakarta - The U.S. Treasury has issued a general license that authorizes the production, delivery and sale of Iranian oil, DW reported.
The license effectively waives sanctions against Iranian oil until August 21 — the end date of a 60-day roadmap for the U.S. and Iran to reach a more conclusive agreement.
"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," Treasury Secretary Scott Bessent said in a post on X.
"As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil."
Vance says Iran agreed to let IAEA inspectors back in
Iran will allow inspectors from the UN's nuclear watchdog, the International Atomic Energy Agency (IAEA), to once again work in the country, U.S. Vice President JD Vance said on Monday.
"The Iranians have agreed to invite IAEA inspectors back into their country," Vance told reporters at the Burgenstock Resort in Switzerland.
"That is a major milestone for the American people and the first step in permanently denuclearizing or permanently ending a nuclear weapons program in Iran."
Vance said he expected discussions for the inspectors to return to Iran to begin as soon.
"I expect that will happen at the minimum this week, but we think even some of those conversations with the inspectors... and with the IAEA could happen as soon as today," he said
The U.S. previously said that Iran had agreed to dilute its enriched uranium stocks, possibly by "down-blending on site under the supervision of the IAEA."
The IAEA last estimated that Iran had 440 kilograms (970 pounds) of uranium enriched to 60 percent. Weapons-grade uranium is typically enriched to 90 percent.
Vance says 'good foundation' for final deal
In remarks to reporters after lengthy talks with senior Iranian officials, Vance expressed optimism about the overall state of negotiations.
"The final deal is the house," Vance told reporters after initial talks with Iran's parliamentary speaker, Mohammad Bagher Qalibaf.
"We set the foundation. We haven't built the house, but we've laid a successful foundation," he added.
Iran said there had been "major progress" to end the fighting in Lebanon and called that the first real test of the negotiations.
Read: Trump: 'US Could Take Over Strait of Hormuz and Collect Tolls'
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