US waives Iran oilwaives Iran oil sanctions for 60 days amid final peace deal talks
The United States authorized a temporary 60-day waiver allowing Iranian oil sales for the first time, easing decades-old sanctions as it pushes toward a final peace deal with Tehran involving nuclear inspections and Strait of Hormuz transit.
This move signals significant progress in negotiations between Washington and Tehran, potentially resolving supply disruptions while Iran rushes to secure buyers in Asia.
The waiver matters because it could stabilize global oil markets and pave the way for a broader end to the US-Iran conflict, though Asian buyers remain hesitant due to policy uncertainty.
United States
The United States frames the waiver as a strategic move to secure a final peace deal, asserting that Iran has committed to free transit through the Strait of Hormuz and international nuclear inspections in exchange for the sanctions relief.
Iranian Perspective
Iranian officials and mediators describe the talks as producing encouraging progress, noting that Washington authorized the sales while Iran continues to push Asia's largest importers to secure long-term crude contracts despite US policy uncertainty.
Asian Importers
Asian importers, including India and Japan, express wariness about the waiver's temporary 60-day nature, stating that uncertainty over US sanctions policy flip-flopping makes them reluctant to commit to Iranian crude imports immediately.
- Approximately 20% of the world's oil passes through the Strait of Hormuz daily, making its security critical for global energy markets.
- Iran has not previously allowed international inspectors full access to its nuclear program under a comprehensive agreement since 2015.
- The United States has maintained sanctions on Iranian oil exports since 2018, blocking most legal trade with the country.
US-Iran Ceasefire War
The United States launched military strikes against Iran on June 26, 2026, in response to a drone attack on a commercial cargo ship in the Strait of Hormuz, calling it a "foolish violation" of the 60-day ceasefire agreement signed just days earlier[2][4][14].
26 June, 09:35 PM
US launches strikes against Iran following commercial ship attack26 June, 04:47 PM
Trump calls Iran drone attack on cargo ship a ceasefire violation
