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US Allows Iran Oil Sales Under Nuclear-Condition Waiver

6/17/2026

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Summary

Story summary

The waiver will activate once the memorandum is signed, covering Iran’s oil sales.
A U.S. official said the United States will let Iran sell oil under a performance-based deal that bans nuclear weapons, with sanctions lifted on a set timetable if Iran meets the terms.
Sanctions expert Brett Erickson called the move a multibillion-dollar concession, noting Iran holds over 100 million barrels of oil, more than 60 million outside the U.S. blockade.

History

Historical Context

After the P5+1 and EU announced the Joint Comprehensive Plan of Action on July 14 2015, sanctions were lifted in exchange for Iran capping enrichment and limiting centrifuges to about 6,000. The new performance-based waiver mirrors that model, permitting sales of up to 100 million barrels of oil if IAEA-verified limits hold, potentially delivering multibillion-dollar revenue to Tehran.

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Story summary

The waiver will activate once the memorandum is signed, covering Iran’s oil sales.
A U.S. official said the United States will let Iran sell oil under a performance-based deal that bans nuclear weapons, with sanctions lifted on a set timetable if Iran meets the terms.
Sanctions expert Brett Erickson called the move a multibillion-dollar concession, noting Iran holds over 100 million barrels of oil, more than 60 million outside the U.S. blockade.

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