Trump waives sanctions on Iran crude oil: What it means for India
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 part of a broader package designed to provide economic relief to Iran, the US Treasury announced a sanctions waiver valid until August 21.
The exemption allows Tehran to export oil and related products and receive payments for those sales. ...