'Foundation for a final deal': US hits pause on Iranian oil sanctions after nuclear push
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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The US has temporarily lifted sanctions on Iranian oil for 60 days, allowing its production and sale.
This move follows Iran's agreement to permit UN nuclear inspectors and ensure free passage through the Strait of Hormuz.
Vice President JD Vance hailed the understanding as a crucial foundation for a future deal, though nuclear talks are still in early stages.
Any potential asset releases would be restricted for American benefit. ...