US Treasury Secretary Scott Bessent announced a temporary 60-day authorization allowing the production, delivery, and sale of Iranian oil as part of a framework reached during ongoing talks with Tehran.

Axar.az reports that Bessent wrote on his X account that the measure was tied to Iran’s commitments on regional security and nuclear oversight, including allowing International Atomic Energy Agency (IAEA) inspectors into the country and maintaining free and open transit through the Strait of Hormuz.

“Under President Donald Trump and Vice President Vance, we continue to make the world safer and more prosperous,” Bessent wrote.

“In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country.”

“As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil,” he added.

The temporary license provides limited relief for Iran’s oil sector while negotiations continue over a broader agreement.