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US Issues 60-Day License, Ends Iranian Oil Blockade

6/23/2026

26 6 Full Breakdown

Center

Bessent Authorizes Oil

U.S. Treasury Secretary Scott Bessent issued a 60-day general license authorizing Iranian oil sales.
The United States authorized Iranian oil production, delivery and sale through August 21, the first permission since the 1990s.
Iran closed the Strait of Hormuz citing Israeli strikes, while merchant vessels kept transiting.
The interim agreement lifts the blockade, waives 60-day tolls and unfreezes billions of dollars.

Right

Trump signs oil

U.S. Vice President JD Vance and wife Usha Vance arrived in Switzerland to start talks with Iranian officials and envoys.
U.S. President Donald Trump and Iranian President Masoud Pezeshkian signed an agreement allowing Iran to sell oil internationally.
Oil futures fell nearly 8% after the agreement, indicating market optimism.
U.S. Central Command monitors Hormuz as President Pezeshkian said Iran’s right to enrich uranium.

Blindspot

Blindspot

Center coverage emphasized Treasury Secretary Scott Bessent’s 60-day general license that authorizes Iranian oil sales, permits U.S.-dollar payments and unfreezes billions of Iranian assets, a detail absent from Right coverage.
Center coverage also noted the interim agreement’s lifting of the U.S. naval blockade and waiver of tolls for 60 days, which Right coverage did not mention.

History

Historical Context

The July 2015 Joint Comprehensive Plan of Action lifted UN, U.S. Treasury and EU sanctions on Iran, unlocking roughly $1.7 trillion of assets and allowing up to 300,000 barrels of oil per day. Today Treasury Secretary Scott Bessent issued a 60-day general license that temporarily restores that sanction relief, echoing the JCPOA’s original framework.

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Bessent Authorizes Oil

U.S. Treasury Secretary Scott Bessent issued a 60-day general license authorizing Iranian oil sales.
The United States authorized Iranian oil production, delivery and sale through August 21, the first permission since the 1990s.
Iran closed the Strait of Hormuz citing Israeli strikes, while merchant vessels kept transiting.
The interim agreement lifts the blockade, waives 60-day tolls and unfreezes billions of dollars.

1 / 4