Trump-Iran deal grants Tehran immediate oil sales relief - report
The agreement allows Iran to begin exporting oil the moment it is signed, with sanctions waivers also covering banking, transport and insurance
The US will allow Iran to immediately begin selling oil and fuel under the ceasefire deal signed this week, offering Tehran an early financial incentive as part of the agreement. This is according to a Wall Street Journal report, citing people familiar with the matter.
Sanctions waivers on oil sales will also take effect and cover banking, transportation and insurance services needed to facilitate transactions. A senior US official said sustained relief would remain tied to Iran's performance on key US demands, including keeping the Strait of Hormuz open and progress on its nuclear program.
Tehran will not receive immediate access to billions of dollars in frozen funds.
The deal, which the US and Iran signed electronically Sunday, includes an extended pause in fighting, lifts both sides' blockades in the Strait of Hormuz, and opens the door to extended nuclear talks. An Iranian supertanker was already observed leaving Chabahar port Tuesday with its tracker active, crossing the US blockade line into the Gulf of Oman, according to the nonprofit United Against Nuclear Iran.
Analysts said Washington likely had little choice but to concede oil exports to secure Hormuz access.
The memorandum envisions far greater financial relief if Iran destroys its enriched uranium stockpile and dismantles its nuclear program, including potential access to an estimated $100 billion in frozen assets and a $300 billion reconstruction fund. President Trump said the US would not contribute to that fund.
Iran's state Mehr News Agency published what it said were the 14 points of the draft memorandum, including a permanent ceasefire, a full lifting of the naval blockade within 30 days, reopening of the Strait of Hormuz, suspension of oil sanctions, $24 billion in released frozen funds during a 60-day negotiating period, and a commitment that Iran's missile program and support for regional armed groups would not be on the agenda of final talks.