U.S. Treasury grants Iranian oil sanction exemption, allowing broader sales

The U.S. Treasury, under former President Donald Trump, issued a 60‑day waiver that temporarily removes long‑standing sanctions on Iranian crude, permitting production, sale and delivery of Iran’s oil. The exemption lifts restrictions that had barred U.S. companies from purchasing Iranian oil and removed secondary‑sanction rules that discouraged third‑party buyers.

U.S. Energy Secretary Chris Ryt said the move enables Iran to export roughly 1.5‑2 million barrels per day to markets such as China and receive payment in dollars, a level comparable to exports under the previous administration. The United States presented the waiver as a confidence‑building step to keep diplomatic talks alive and to help keep the Strait of Hormuz open, while noting the impact on global oil prices is expected to be limited.

Analysts note that Iran’s oil shipments have already risen from near‑zero to about 1.5 million barrels daily, and the price of Brent crude has shown little change since the exemption was announced. The broader effect will depend on Iran’s ability to find new buyers beyond its current Chinese “T‑Pat” refiners.