US eases Iranian oil sanctions as Iran denies Vance claim on nuclear inspectors
The US Treasury on Monday eased certain sanctions on Iranian oil exports, while Iran's Foreign Ministry rejected as « factually incorrect » a claim by US Vice President JD Vance that nuclear inspectors had been granted « full access » to facilities.
The US Treasury's Office of Foreign Assets Control (OFAC) on Monday announced a two-year temporary licensing programme that allows Iranian crude oil to be sold to Asian buyers under specific conditions. The move is being read as the first step in the sanctions-relief sequence following the Geneva accord.
Iran's Foreign Ministry spokesperson Ismaeil Baghaei said in a Monday-afternoon press conference that the « full access » claim by US Vice President JD Vance was « factually incorrect. » Baghaei said « the technical arrangement has not been concluded; we continue to talk with our partners. »
White House spokesperson Karoline Leavitt walked back the Vance comment, saying it « reflected the future access framework. » Brent crude fell an additional $1.20 per barrel after the exchange. ExxonMobil, TotalEnergies and CNPC have all said they are preparing applications for OFAC licences.
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