WASHINGTON: The United States (US) has issued a temporary 60-day general license allowing Iran to produce, transport, and sell crude oil, the US Treasury Department said, marking a notable shift following recent diplomatic talks.
According to the Treasury Secretary, the license permits Iran’s petroleum and petrochemical exports through Aug. 21, and also allows payments for Iranian oil in US dollars under regulated conditions.
The official said the move reflects “diplomatic progress” and ongoing efforts to enhance global security and economic stability under the leadership of President Donald Trump and Vice President J.D. Vance.
The statement added that Iran has provided assurances regarding the free movement of commercial shipping through the Strait of Hormuz.
Separately, mediators Pakistan and Qatar said in a joint statement that Iran and the United States have agreed on a roadmap aimed at reaching a final agreement within 60 days following talks in Switzerland.
The roadmap includes the immediate launch of technical-level negotiations, formation of high-level monitoring committees, and working groups focused on Iran’s nuclear program, sanctions relief, and dispute resolution.
Mediators also said a coordination mechanism will be established to ensure maritime security in the Strait of Hormuz, while a separate de-escalation mechanism will address military activity concerns in Lebanon.
More read, Iranian President Pezeshkian to visit Pakistan on tomorrow
Officials from the mediating countries described the Swiss talks as “encouraging,” though they acknowledged tensions during the negotiations after reported warnings from U.S. President Donald Trump that military action could be considered if no deal is reached.
