WSJ: U.S. to Allow Iran to Immediately Resume Oil Export Sales

BlockBeats News, June 16th, according to The Wall Street Journal, sources familiar with the matter said that under the agreement, the United States will allow Iran to immediately resume oil and fuel exports, providing Tehran with an early economic incentive to help ease tensions.

The provisions in the agreement regarding waivers for oil sales sanctions will take effect immediately after the agreement is signed later this week. At the same time, necessary services such as banking, transportation, and insurance to support oil sales will also be exempted to ensure that relevant transactions can proceed smoothly. The United Against Nuclear Iran (UANI) stated that a supertanker carrying Iranian crude oil has left the port of Chabahar, crossed the U.S. blockade, and exited the Gulf of Oman on Tuesday with its ship tracking system activated. This is the first such incident since the U.S. implemented the maritime blockade in April this year.

A senior U.S. official said on Tuesday that although Iran will receive an initial waiver for oil sales from sanctions, long-term and sustained sanction relief will depend on Iran's compliance with U.S. demands, including opening the strait and issues related to the nuclear program. The official added that Iran will still not immediately gain access to the billions of dollars frozen overseas.