Secretary Bessent cited the “productive talks” in Switzerland and Iran’s commitments to uranium inspections and opening the Strait of Hormuz.
Treasury Secretary Scott Bessent announced the Office of Foreign Assets Control was lifting oil sanctions against Iran for 60 days as part of the ceasefire process of President Trump’s administration.
“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 (IAEA) inspectors into their country,” Secretary Bessent stated. “As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil.”
Last week, the Treasury Department stated that OFAC had “sanctioned Hizballah-aligned Lebanese officials, as well as members and interlocutors of a Hizballah-associated business network. The Lebanese officials designated today have used their influence to obstruct Lebanon’s peace process and delay the disarmament of Hizballah.” The Iranian-backed group has continued to fire upon Israeli security forces in Lebanon, which destabilized recent U.S. and Iranian peace talks.
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Sources: Department of the Treasury, The Telegraph,
