The US has issued a temporary license for operations involving…
The US has issued a temporary license for operations involving Iranian oil. The US Treasury Department granted a license for operations with Iranian oil.
Consensus
- The U.S. Treasury's OFAC issued a temporary general license for operations with Iranian oil, petrochemical products, and petroleum products.
- The license is valid until August 21, 2026.
- The license was issued as part of a 14-point memorandum of understanding between the U.S. and Iran.
- The memorandum aims to end hostilities and resolve disputes through dialogue.
- Iran agreed to allow free passage through the Strait of Hormuz and permit IAEA inspectors into the country.
Points of divergence
- The license allows import of Iranian oil and petroleum products into the U.S. if necessary to complete sales or shipments. — fontanka
- The license covers transactions involving ships that were blocked under U.S. sanctions. — vedomosti
- Iranian oil prices are now trading at a discount of $2.5 to $5 per barrel compared to Brent crude. — vedomosti
- A high-level committee was established to oversee the mediation process, with a final agreement expected within 60 days. — vedomosti
- The license allows payments to be made in U.S. dollars. — kommersant
Coverage (3 sources)
- US issued temporary license for operations with Iranian oil — Фонтанка
- US Treasury Grants License for Iran Oil Transactions — Ведомости
- US allows operations with Iranian oil until August 21 — Коммерсантъ
Key entities
- USA
- Ministry of Finance
- United States (OFAC)
- Washington
- Tehran
- Reuters
- Switzerland
- Scott Bessent
- Ministry of Finance
- OFAC
- Finance Ministry's Foreign Assets Control Management
- Controls on Foreign Assets Management