{"id":508014,"date":"2026-06-24T00:02:37","date_gmt":"2026-06-24T00:02:37","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/508014\/"},"modified":"2026-06-24T00:02:37","modified_gmt":"2026-06-24T00:02:37","slug":"us-greenlights-iran-oil-sales-for-60-days-under-mou","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/508014\/","title":{"rendered":"US greenlights Iran oil sales for 60 days under MoU"},"content":{"rendered":"

The Islamic Republic<\/a> has received a license to produce, deliver, and sell crude oil<\/a> for the next 60 days, the US Treasury Department announced on Monday.<\/p>\n

The authorization will allow the United States to import Iranian crude oil and petroleum products until August 21, 2026, though transactions involving North Korea, Cuba, and Russian-occupied Ukraine remain subject to sanctions.<\/p>\n

\u201cIn 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,\u201d Treasury Secretary Scott Bessent announced on X\/Twitter.<\/p>\n

\u201cAs part of the framework, the treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil.\u201d<\/p>\n

The impact was almost immediate in the global market as oil prices<\/a> fell dramatically on Tuesday. Brent crude futures were down 44 cents, or 0.6%, to $77.46 a barrel and US West Texas Intermediate was down 30 cents, or 0.4%, to $73.56 a barrel at 8:13 a.m. GMT.<\/p>\n

\"\"<\/p>\n

On Monday, government data showed US crude stocks in the Strategic Petroleum Reserve fell to 331.2 million barrels last week, the lowest since June 1983, as supplies tightened as a result of the Strait of Hormuz\u2019s three-month-long closure.<\/p>\n

1.5 million barrels of oil daily before Hormuz closure<\/p>\n

The Islamic Republic was able to export more than 1.5 million barrels of oil daily before the strait\u2019s<\/a> closure, which declined to 209,000-260,000 after the blockade.<\/p>\n

The maritime intelligence firm TankerTrackers first reported that Iran has exported approximately 36 million barrels of crude oil since June 15. On Friday, the firm said the Islamic Republic had exported $1.44 billion in crude oil that week alone.<\/p>\n

Shahar Golomb, a lecturer in economics and finance at the Afeka Academic College of Engineering, told The Jerusalem Post that it was too early to assess the full implications of the two-month reprieve but asserted that \u201cthere is a real risk that the Iranian regime will use part of these funds to rebuild or strengthen its military and regional capabilities.\u201d<\/p>\n

\u201cThe US administration appears to have made a cold cost-benefit calculation: allowing a temporary reprieve may be less costly than prolonging a conflict that could destabilize energy markets, push oil prices sharply higher, and create broader risks for the global economy,\u201d he commented.<\/p>\n

\u201cIn other words, this is not necessarily a vote of confidence in Iran, but rather a pragmatic attempt to reduce the immediate economic and geopolitical damage.\u201d<\/p>\n

Reuters contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"The Islamic Republic has received a license to produce, deliver, and sell crude oil for the next 60…\n","protected":false},"author":2,"featured_media":508015,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,87,142930,43,5839,114994,40,38,41,39,1032],"class_list":["post-508014","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-iran","tag-iran-deal","tag-news","tag-oil","tag-strait-of-hormuz","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/508014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=508014"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/508014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/508015"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=508014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=508014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=508014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}