Iran lifts oil sanctions, hikes export price by 20%

Iranian Parliament and Negotiations Committee Chairman Muhammed Bakır Kalibaf announced that U.S. sanctions on Iran's oil sales have been lifted. He said Iran is now selling its crude at a price 20 % higher than before the sanctions and has exported over 40 million barrels in the last 10‑12 days, after a 50‑day export halt.

Kalibaf noted that Iran holds about $24 billion in assets abroad, with $12 billion earmarked for essential imports. He stressed Iran’s sovereignty over the Strait of Hormuz, co‑owned with Oman, and warned that Tehran will not retreat on its rights there, urging lower ship‑insurance rates.

He added that negotiations will not resume unless the five conditions of the recent accord are implemented, citing a potential shift to military response if the agreement is not honoured. Kalibaf affirmed Iran’s commitment to the Nuclear Non‑Proliferation Treaty and its right to uranium enrichment, while declaring its missile program non‑negotiable.

U.S. Vice President J.D. Vance, speaking to media outlets, said Iran’s public denial of direct talks is a negotiation tactic and that technical discussions continue under the cease‑fire framework. He emphasized that the United States remains engaged in the diplomatic process despite Tehran’s statements.