Washington: The US Treasury Department has announced the issuance of a temporary 60-day general license that allows the production, delivery, and sale of Iranian oil. This move is part of an emerging nuclear framework, as disclosed by Treasury Secretary Scott Bessent on Monday.

According to Anadolu Agency, Bessent highlighted the ongoing efforts under President Donald Trump and Vice President JD Vance to enhance global safety and prosperity. In a post on the US social media platform X, Bessent stated that the decision aligns with the productive negotiations currently taking place in Switzerland. As part of the discussions, Iran has pledged to ensure free and open transit in the Strait of Hormuz and agreed to allow International Atomic Energy Agency (IAEA) inspectors access to their country.

Bessent further elaborated that the temporary 60-day general license is a critical component of the framework, facilitating the production, delivery, and sale of Iranian oil. This development marks a significant step in the evolving diplomatic talks aimed at addressing nuclear concerns while promoting economic engagements.