Bessent Says US Issued 60-Day License for Iranian Oil Output, Sales After Swiss Talks

US Treasury Secretary Scott Bessent said the Treasury Department has issued a 60-day temporary general license allowing the production and sale of Iranian oil.

Walter Bloomberg, a market news alert account, cited Bessent as saying on June 22 that the license covers Iranian oil production and sales.

He said the move followed productive talks in Switzerland.

The license creates a temporary carveout for Iranian oil and related energy transactions. It does not amount to a full removal of US sanctions on Iran's energy sector, but instead allows certain transactions for a limited period.

Markets viewed the step as an extension of progress in US-Iran talks and the normalization of shipping through the Strait of Hormuz. Temporary permission for Iranian oil production and sales could ease supply concerns and put downward pressure on global crude prices.