The United States has authorised Iranian oil sales, easing decades-old sanctions as it pushes toward a final peace deal with Tehran in return for commitments on nuclear inspections and free transit through the Strait of Hormuz.

The general license, announced by the Treasury Department, allows the sale of crude oil and petrochemical and petroleum products of Iranian origin through August 21.

The license says Iranian oil can be imported into the US when necessary to complete its sale, delivery or offloading.

“Treasury has issued a temporary 60-day general license authorizing the production, delivery and sale of Iranian oil,” Treasury Secretary Scott Bessent has written on X.