US issues 60-day waiver allowing Iranian oil exports after exports hit five-year low
By
Jennifer Gnana
4h ago· 4 min readenNews
Summary
The US Treasury issued a 60-day waiver (General Licence X) allowing Iran to sell and deliver oil cargoes, including US dollar payments and potential imports into the US for the first time in decades. This comes after Iranian crude exports hit a five-year low of 329,000 barrels per day in May, an 85% drop from February's 2.2 million bpd, largely due to the US naval blockade. The waiver expires on August 21 and provides a temporary lifeline for Iran's struggling oil trade, though China remains its only major customer.
Source
bskyUS issues 60-day waiver allowing Iranian oil exports after exports hit five-year lowthenationalnews.comKey quotes
· 3 pulledIran secured a temporary lifeline for its oil trade after the US Treasury on Tuesday issued a General Licence X authorising the sale and delivery of Iranian cargoes
Crude shipments had collapsed to 329,000 barrels per day in May, down 78 per cent from April and 85 per cent below February's 2.2 million bpd
The 60-day waiver, which expires on August 21, allows for US dollar payments to Tehran and sanctioned entities, and even paves the way for Iranian oil imports into the US for the first time in decades
Exports recovering from wartime collapse, but China remains only major customer
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