Iran set to return to mainstream oil market as US temporarily waives sanctions
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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As 60 days of peace negotiations between the US and Iran continue, Tehran appears to have won significant concessions from Washington.
Chief among those is the waiving of sanctions on Iranian oil exports.
US sanctions have been in place for decades, cutting Iran off from mainstream global oil markets and forcing it to sell its oil to China at discount rates.
The US says the other side of the deal is that Iran will allow international inspectors access to its nuclear program - Tehran though says it has made no such commitment. ...
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