The United States approves the sale of some Iranian-produced crude oil

U.S. Treasury Secretary Mnuchin stated that under the leadership of President Trump and Vice President Pence, we continue to work towards making the world safer and more prosperous. According to ongoing constructive talks in Switzerland, Iran has committed to ensuring the freedom and open passage of the Strait of Hormuz and allowing IAEA inspectors to access its territory. As part of the framework agreement, the U.S. Department of the Treasury has issued a 60-day temporary general license authorizing the production, delivery, and sale of Iranian oil. According to the U.S. Treasury Department's website, transactions authorized by the newly issued general license include importing crude oil, petrochemical products, and petroleum products originating from Iran into the United States, but do not authorize transactions involving countries such as Cuba and Ukraine.