US authorizes Iranian Oil sales for 60 days as nuclear and security talks progress

Jun 21, 2026

The United States and Iran have agreed to a 60-day roadmap toward a final peace deal during high-level talks in Switzerland. To support the negotiations, the U.S. Treasury issued a temporary 60-day general license authorizing Iranian oil sales through August 21, 2026. In return, Tehran committed to allowing IAEA inspectors back into the country and ensuring free transit through the Strait of Hormuz. Despite progress on a Lebanon de-confliction framework, regional tensions remain high as Israel vows to maintain military control in southern Lebanon.

US-Iran Switzerland negotiations

▪The United States and Iran agreed to a road map to reach a final peace deal within 60 days during high-level negotiations in Switzerland.
▪The general license permits Iranian oil imports into the United States and allows payments to Tehran in U.S. dollar-denominated funds, while excluding Cuba, North Korea, and Russian-occupied Ukraine.
▪The United States Treasury Department issued a temporary 60-day general license, expiring August 21, 2026, authorizing the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products.

Strait of Hormuz security arrangements

▪Iran committed to free and open transit in the Strait of Hormuz and agreed to discuss future administration of the waterway with Oman and other Gulf states after 60 days of toll-free transit.
▪The United States and Iran agreed to establish a communication line and a coordination mechanism for demining to avoid incidents in the Strait of Hormuz.

Iran nuclear program monitoring

▪Iranian Foreign Ministry spokesperson Esmaeil Baghaei stated that Tehran did not negotiate on its nuclear program or accept new commitments during the talks.
▪Iran agreed to permit International Atomic Energy Agency weapons inspectors back into the country as part of the negotiating framework.

Lebanon ceasefire framework

▪The United States and Iran agreed on a framework to establish a de-confliction cell aimed at ending military operations in Lebanon.
▪Israeli Prime Minister Benjamin Netanyahu vowed to maintain a security zone in southern Lebanon under Israeli military control until Hezbollah is dismantled and disarmed.

Israeli-Hezbollah continued hostilities

▪Israeli forces and Hezbollah exchanged heavy fire on June 20, 2026, resulting in at least 16 deaths from Israeli strikes according to the Lebanese National News Agency.
▪The United Nations Interim Force in Lebanon recorded zero attacks from either Israel or Hezbollah on June 21, 2026, marking the first such day since March 2, 2026.