US, Iran agree on Lebanon ceasefire and lifting sanctions on Iranian oil, but much remains
ONP Summary
The United States has temporarily waived sanctions on Iranian oil exports for two months through August 21, 2026, as negotiations on a broader nuclear and regional peace agreement advance. In exchange, Iran committed to allowing International Atomic Energy Agency nuclear inspections and maintaining open maritime transit through the Strait of Hormuz.
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Both Tehran and Washington hailed the negotiations that took place in Switzerland on June 22 to create a roadmap to close down the war in the Middle East.
US Vice president JD Vance said it laid a good foundation for a deal to end the war.
The parties agreed to establish mechanisms to open the strait of Hormuz but it is unclear who will control it. ...
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