U.S. Treasury Secretary Scott Bessent has announced that the Treasury Department has issued a temporary general license for 60 days, allowing the sale and transportation of Iran’s oil and petrochemical products.
He added that, during negotiations in Switzerland, Iran committed to ensuring the free and unobstructed passage of ships through the Strait of Hormuz.
The U.S. Treasury Secretary also stated that sanctions imposed on payment transactions, insurance, and transportation services conducted through Iran’s banking system have been temporarily suspended.
Earlier, Iran’s Foreign Minister had stated that restrictions on Iran’s oil exports had been suspended, the country’s maritime blockade had come to an end, and a portion of Iran’s frozen assets had also been released.