US Treasury issues 60-day sanctions waiver for Iranian oil under interim deal

Vice President JD Vance speaks to members of the media after the U.S. and Iran held high-level talks in Switzerland. PIC/AP

The US Treasury has issued a 60-day license waiving sanctions on Iranian oil as part of the interim agreement to end Iran war.

The license authorises the production, delivery and sale of Iranian oil. It will last through August 21.

The license emerged Monday as US Vice President JD Vance said his lengthy talks with senior Iranian officials in Switzerland created a "good foundation for a successful final deal." Negotiators are seeking a permanent end to the war that the US and Israel began in late February.

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