US-Iran Deal Allows Tehran To Immediately Begin Selling Oil, But..
US-Iran Deal Allows Tehran To Immediately Begin Selling Oil, But... Published By, Last Updated: June 16, 2026, 22:58 IST The provision for sanction waivers on
US-Iran Deal Allows Tehran To Immediately Begin Selling Oil, But... Published By, Last Updated: June 16, 2026, 22:58 IST The provision for sanction waivers on Iranian oil sales will also cover necessary services, including banking, transportation and insurance. Rapid Read An Iranian tanker has already crossed the US blockade in the Strait of Hormuz. (Reuters/Representational Image) The framework deal between the United States and Iran allows Tehran to immediately begin selling oil, offering the Islamic Republic an early economic lifeline during the 60-day negotiating period aimed at easing the impact of the conflict, according to a report. The provision for sanction waivers on Iranian oil sales will take effect upon signing the agreement in Switzerland this Friday and will also cover necessary services, including banking, transportation and insurance needed to facilitate the sales, the Wall Street Journal reported, citing people familiar with the agreement. The US and Iran will sign their peace agreement in person at the Burgenstock Resort near Lucerne in Switzerland on Friday (June 19).
Follow Iran-US Deal LIVE Updates How Will It Help Iran? An Iranian tanker carrying crude oil on Tuesday crossed the US blockade and sailed out of the Gulf of Oman, according to the non-profit United Against Nuclear Iran. This marked the first instance of an Iranian ship being allowed since the beginning of the US blockade in April. Allowing Iran to sell oil would provide a significant economic boost to Tehran because oil exports are one of the country’s largest sources of revenue. The additional income could help the Iranian government stabilize its economy, which was already struggling before the war due to harsh sanctions imposed by the US. ALSO READ: How Long Is Iran-US Peace Deal MoU? Vance Says It Is Not Even ‘Two Pages’ Iran could also use some of the extra revenue to rebuild infrastructure and industries damaged by the recent conflict and years of economic pressure. The deal could allow Iranian oil to reach new buyers, widening its exports and earning substantial revenue.
What Are America’s Conditions? However, US officials made it clear that this is a performance-based agreement and sustained relief would depend upon how Iran complies with America’s demands on the reopening of the Strait of Hormuz and its nuclear programme. Many US lawmakers and political officials oppose financial relief for Iran, saying it would help the Islamic Republic bolster its defences. However, Farzin Nadimi, an Iran-focused senior fellow with the US-based think tank Washington Institute, said the White House conceded on Iranian oil exports to open the Strait of Hormuz, one of the world’s most important energy corridors. “The White House thinks that these kinds of sweeteners are required to make Iran make concessions, and otherwise it would be very difficult to make Iran continue negotiations," said Nadimi. The US also ruled out immediate access to billions of dollars in frozen Iranian funds. While the US is willing to provide access to some of the frozen funds, Trump has denied providing $300 billion to Iran for the reconstruction and repair of war damage.
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