US Treasury revokes sanctions relief license for Iran's oil sector

The US Department of the Treasury is revoking a license easing sanctions on Iran's oil sector until August 21, Report informs, citing a statement from the department.

According to the statement, new transactions have been banned from July 7, while existing transactions may be wound down until July 17.

Washington had earlier issued a license allowing the production, supply and sale of oil, petroleum products and petrochemical products from Iran until August 21, 2026, "consistent with ongoing productive talks in Switzerland."