Washington — The United States has temporarily eased restrictions on Iranian oil exports through Aug. 21 as negotiations with Tehran continue over nuclear issues, maritime security and the future of the Strait of Hormuz.
The Treasury Department’s Office of Foreign Assets Control issued Iran General License X, authorizing the production, sale, delivery and offloading of Iranian-origin crude oil, petrochemical products and petroleum products.
According to the license, “all transactions prohibited by the above-listed authorities that are ordinarily incident and necessary to the production, sale, delivery, or offloading of crude oil, petrochemical products, or petroleum products of Iranian origin” are authorized until 12:01 a.m. Eastern Daylight Time on Aug. 21.
The authorization covers a wide range of activities connected to Iranian energy exports, including certain transactions involving vessels blocked under U.S. sanctions.
OFAC said the license permits activities needed for the safe docking and anchoring of vessels carrying Iranian oil and petroleum products, as well as emergency repairs, environmental protection measures and efforts to protect the health and safety of crews.
It also covers vessel management, crewing, bunkering, piloting, registration, flagging, insurance, classification and salvage services.
The license permits Iranian-origin crude oil, petrochemical products and petroleum products to be imported into the United States when those imports are necessary for authorized sales, deliveries or offloading operations.
Payments owed to Iran, the Iranian government or blocked individuals and entities for purchases of Iranian energy products “may be made in US dollar-denominated funds,” OFAC said.
The move came as U.S. and Iranian negotiators continued talks in Bürgenstock, Switzerland.
“We’ve already made great progress,” Vice President J D Vance told reporters, adding that he hoped for “additional progress in the hours to come.”
The new authorization is broader than an OFAC waiver issued in March, which largely permitted the delivery and sale of Iranian oil that had already been loaded onto vessels. General License X also authorizes transactions related to the production and sale of Iranian energy products through August. (Source: IANS)
