Daijiworld Media Network - Washington
Washington, Jun 22: The United States on Monday announced a temporary easing of restrictions on Iranian oil exports through August, a move that came amid ongoing negotiations with Tehran in Switzerland over nuclear issues, maritime security and the future of the Strait of Hormuz.
The decision was unveiled shortly after US Vice President JD Vance said discussions with Iranian negotiators had yielded encouraging results.
The US Treasury Department’s Office of Foreign Assets Control (OFAC) issued Iran General License X, allowing activities related to the production, sale, transportation and unloading of Iranian crude oil, petrochemical products and petroleum products until August 21.
According to the licence, transactions ordinarily required to facilitate Iranian energy exports will be permitted until 12:01 a.m. Eastern Daylight Time on August 21.
The authorisation extends to a wide range of operations associated with Iranian energy shipments, including transactions involving vessels that were previously subject to US sanctions.
OFAC said the licence permits activities necessary for the safe docking and anchoring of ships carrying Iranian oil, as well as measures related to crew safety, emergency repairs and environmental protection.
Additional services covered under the temporary exemption include vessel management, crew deployment, bunkering, pilotage, ship registration, flagging, insurance, classification and salvage operations.
The licence also permits the import of Iranian-origin crude oil, petrochemical products and petroleum products into the United States when such imports are directly connected to authorised sales, deliveries or unloading activities.
Furthermore, OFAC said payments owed to Iran, the Iran government or sanctioned entities for the purchase of Iranian energy products may be made in US dollar-denominated funds.
The announcement coincided with continuing negotiations between US and Iranian officials at the Bürgenstock Resort in Switzerland.
Speaking to reporters, Vice President Vance expressed optimism about the discussions.
“We've already made great progress and expect additional progress in the hours ahead,” he said.
Officials noted that the new authorisation is broader than a previous waiver issued by OFAC in March, which mainly permitted the sale and delivery of Iranian oil that had already been loaded onto ships.
Under General License X, a wider set of activities linked to the production, sale, transport and unloading of Iranian energy products will now remain authorised through August, signalling a significant development as diplomatic efforts between Washington and Tehran continue.