The United States announces the lifting of "Iran oil sanctions" for 60 days, easing the Hormuz Strait crisis and potentially cooling global inflation

According to a statement released today (22nd) by U.S. Treasury Secretary Scott Bessent, significant progress has been made in negotiations between the United States and Iran in Switzerland. In response to Iran’s commitment to open the Strait of Hormuz and accept inspections by the International Atomic Energy Agency (IAEA), the U.S. Treasury Department has officially issued a 60-day temporary license, allowing Iran’s oil production and sales. This move is expected to greatly ease global energy and inflation pressures, injecting bullish expectations into risk assets such as cryptocurrencies.
(Background summary: Trump interview with Axios: presidential powers “unlimited,” ending Iran war “saving the global economy,” Anthropic not yet a threat to national security)
(Additional background: Trump attends G7 summit! Bringing Iran ceasefire agreement, Europe eager to participate in lifting the blockade on the Strait of Hormuz, oil prices drop nearly 5%)

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• Iran’s compromise: opening the Strait of Hormuz and IAEA inspections
• U.S. lifts restrictions! Treasury issues 60-day oil sales license
• Energy crisis alleviated, inflation cooling benefits crypto markets

The Middle East geopolitical crisis has ushered in a dramatic dawn, injecting a strong dose of confidence into the global economy. On June 22, 2026, Taipei time, U.S. Treasury Secretary Scott Bessent posted a major announcement on his official X (formerly Twitter) account, declaring that under the leadership of President @realDonaldTrump and Vice President @VP, the U.S. has reached an initial framework agreement with Iran and has temporarily eased strict sanctions on Iranian oil.

Under President @realDonaldTrump and @VP, we continue to make the world safer and more prosperous.

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…

— Treasury Secretary Scott Bessent (@SecScottBessent) June 22, 2026

Iran’s compromise: opening the Strait of Hormuz and IAEA inspections

Bessent pointed out in his post that, based on the currently ongoing and “productive” talks in Switzerland, Iranian authorities have made two crucial commitments for global stability: first, to maintain the free and open transit of the vital global oil route, the Strait of Hormuz; second, to allow IAEA inspectors into the country to restart oversight of its nuclear facilities.

U.S. lifts restrictions! Treasury issues 60-day oil sales license

As part of the negotiation framework, the U.S. also demonstrated significant goodwill. Bessent announced that the U.S. Office of Foreign Assets Control (OFAC) has officially issued a 60-day temporary general license. According to OFAC’s official notice, this license will legally authorize Iran’s oil production, transportation, and sales. This means Iran’s massive oil reserves, previously blocked, will re-enter the global supply market within the next two months.

Energy crisis alleviated, inflation cooling benefits crypto markets

For the overall economy and the cryptocurrency market, this geopolitical breakthrough is undoubtedly a major bullish signal. The security of the Strait of Hormuz and the lifting of Iran’s oil sanctions will effectively ease fears of global supply chain disruptions and are expected to lead to a significant decline in international crude oil prices.

As energy prices fall, U.S. inflation pressures (such as CPI data) will also ease, giving the Federal Reserve (Fed) greater room to cut interest rates and implement monetary easing. With liquidity expected to become more abundant, confidence in buying Bitcoin (BTC) and other risk assets is likely to further strengthen, removing one of the biggest black swan risks for the crypto market in the second half of the year.