The US Treasury has issued a 60-day license waiving sanctions on Iranian oil as part of the interim agreement to end Iran war.
The license authorises the production, delivery and sale of Iranian oil. It will last through August 21.
The license emerged Monday as US Vice President JD Vance said his lengthy talks with senior Iranian officials in Switzerland created a "good foundation for a successful final deal." Negotiators are seeking a permanent end to the war that the US and Israel began in late February.
Under the memorandum of understanding signed last week between Washington and Tehran, the United States agreed to issue waivers for the export of Iranian crude oil, petroleum products, and derivatives, and all associated services, including banking transactions, insurances, and transportation.
Transactions authorized in Monday's general license include importation of Iranian-origin crude oil, petrochemical and petroleum products to the United States.
It does not authorize transactions involving North Korea or Cuba.