Treasury issues temporary license for Iranian oil sales

AI Summary

The US Treasury Department issued a temporary 60-day general license allowing Iranian oil sales amid ongoing talks in Switzerland. Iran has committed to keep the Strait of Hormuz transit free and open to international shipping during this period.

The Treasury Department on Monday move to temporarily allow the sale of Iranian oil, issuing a 60 day “general license” that lifts restrictions normally in place on the commodity. “In 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…