Washington has switched the tap back on for Iran. The U.S. Treasury's General License X, issued on June 22, waives sanctions on Iranian crude, petrochemical and petroleum sales through August 21. It marks the broadest rollback since the 1979 Revolution. But for Iran, even as the funds are unlocked, the money is not moving yet.

Iran's Oil Windfall From Sanctions Relief Hits Banking Wall 

For the first time in nearly a decade, Washington is reportedly easing restrictions on Iranian oil exports, allowing Iran to sell oil in the open market and receive payments in U.S. dollars.

The move marks a significant shift in U.S. sanctions policy and could reshape global oil trade dynamics, energy prices, and geopolitical alignments in the Middle East.


U.S. Treasury Waives Iran Oil Sanctions

Despite U.S. President Donald Trump's fresh threat to Iran, both sides agreed on a roadmap towards inking a final deal within sixty days. In a big development, U.S. lifted sanctions on sale of Iranian oil after claiming that Tehran agreed to allow free transit through Strait of Hormuz and IAEA inspections. Technical talks between U.S. and Iran are expected to continue in the next few days and weeks.


US Lifts Sanctions on Sale of Iranian Oil Amid Trump's Threat, Eyes 'Final Deal'

China issued its first “blocking order” against US sanctions on firms buying Iranian oil, rejecting Washington’s measures as illegal and escalating trade tensions amid stalled US-Iran talks.

China rejects US sanctions on refineries for buying Iran oil, invokes first-ever ‘blocking order’

Why is Iran bringing a decades-old tanker back into service? As pressure mounts from the US blockade, Tehran is turning to stopgap fixes to store oil, including reviving the ageing vessel Nasha near Kharg Island.

Is this a sign that Trump's plan is working? Scroll down to find out.

Resurrecting the dead: Why has Iran pulled 'ghost ship' Nasha out of retirement? Shocking reason REVEALED

The U.S. Treasury has announced fresh sanctions targeting an Iranian oil smuggling network as part of its intensified “Economic Fury” campaign to cut off Tehran’s revenue sources. The action targets more than two dozen individuals, companies, and vessels accused of helping Iran bypass oil export restrictions.

US Treasury Sanctions Iran Oil Smuggling Network Under Economic Fury

Even as the world is going through a major energy crisis due to the West Asia war, Iran's revenue from oil exports has increased manifold. Its daily average revenue from oil exports jumped from $115 million in February to $139 million in March.

Iran's Oil Revenue Jumps After Start of War, Earns $139 Million Daily

China is making strategic moves in the global energy market as state-owned refiners explore new deals for Iranian oil.
Following a limited sanctions waiver from the United States, China is evaluating fresh imports from Iran-a development that could reshape oil trade flows across Asia.
With global energy markets already tight, this move could have far-reaching consequences.

China Refiners Explore Iran Oil Deals as Beijing Buys Bulk of Tehran’s Crude Exports

Amid the escalating US-Iran war, the United States has temporarily lifted sanctions on Iranian oil already at sea in a bid to stabilise global energy markets. The 30-day waiver could release nearly 140 million barrels of crude into international supply chains as oil prices surge above $100 per barrel following disruptions linked to the Strait of Hormuz crisis.


US-Iran War: US Lifts Sanctions on Iranian Oil At Sea to Ease Crisis

In a major policy shift amid the ongoing US-Iran war, the United States has temporarily lifted sanctions on Iranian oil already at sea to ease the global energy crunch triggered by the Strait of Hormuz crisis. The 30-day waiver could release nearly 140 million barrels of crude into international markets, aiming to stabilise soaring oil prices and reduce supply disruptions.


US-Iran War: US Sanctions on Iranian Oil At Sea to Ease Crisis

US Treasury Secretary Scott Bessent announced a 30-day waiver allowing Indian refiners to buy stranded Russian oil to stabilise global supply amid the US-Israel–Iran war, saying it won’t significantly benefit Russia.

US making a U-turn? India gets 30-day waiver to purchase Russian oil amid Iran war

Teapot refineries in China drive the oil demand as Iran front-loads shipments in June as fear of war loom. Trump’s mixed signals on sanctions stir market confusion.

China's Iranian oil imports hit record high amid signs of sanctions shift

Business & Economy: The move is part of the Trump administration’s maximum pressure campaign aimed at curbing Iran’s oil revenues and deterring its military ambitions

US sanctions over 20 companies for facilitating Iranian oil shipments to China

President Donald Trump said Thursday any country or person that buys oil or petrochemicals from Iran will not be allowed to do any business with the U.S.

Iran slams new US sanctions in midst of nuclear talks, Trump calls for boycott of Iran oil

The United States has imposed sanctions on an Indian company and several of its nationals for their role in facilitating the shipment of Iranian oil to China, violating US sanctions on Iran. The move escalates tensions between the US and countries involved in circumventing sanctions, particularly in the energy sector. The sanctions target key individuals and entities suspected of aiding in the illicit trade.

US imposes sanctions on Indian company and nationals involved in shipping Iranian oil to China

Iran on Sunday (Oct 13) condemned the latest US sanctions on its oil industry, calling them "illegal and unjustified". The US imposed the sanctions after Tehran's missile attack on Israel earlier this month.

Iran slams new US oil sanctions, calls them ‘illegal and unjustified’

Iran attacked Israel with over 200 ballistic missiles on Tuesday, further escalating tensions in the Middle East. The region is on the brink of an all-out war as Israel prepares to retaliate against the attack.

Israel planning to target Iran's oil facilities, resort to targeted assassinations: Report

Iran's government has announced a plan to significantly boost oil production to 4 million barrels per day. This target surpasses pre-sanction levels and raises questions about its feasibility.

Iran to boost oil production to 4 million barrels per day

Iran has planned to roughly double its oil production in the next year -- as the country anticipates a loosening of US sanctions after Joe Biden assumes power. Oil Minister Bijan Namdar Zanganeh told lawmakers on Saturday the government aims to pump 4.

Iran wants to hike oil production next year

March 15 in history: Incorporation of Rolls-Royce Limited, Nationalisation of Iran's oil industry and more!

By Rockford Weitz Soaring tensions between Iran and the United States have reignited fears that the Strait of Hormuz could become a flashpoint as Tehran responds to the killing of its top general.

Could Iran-US tensions mean troubled waters ahead in the Strait of Hormuz?

The tensions in West Asia bring bad news for businessmen. Several international airlines have been forced to re-route their flights, prices of oil have skyrocketed and India too is feeling the pinch.

Explained: How US-Iran tensions impact the economy

After the surprise airstrike by the USA that has killed Iranian General Qasem Soleimani, tensions have substantially spiked between the two nations. So much so that the possibility of war has been brought up by media, creating fear among the masses globally.

US-Iran tensions and why India should care

We have seen the scale of the protest in Iran. We have brought you the responses. And we have also looked at the causes - both internal and external. We have summarised the reasons why America targets Iran.

WION Edit: What would an unstable Iran mean for the world?

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