US Waives Iran Oil Sanctions as Peace Deal Brings Huge Shift (3)

The US has authorized the sale of Iranian oil and fuels as part of an agreement to end the war against Tehran, a sweeping change after years of economic sanctions.

The US Treasury Department issued a wide-ranging 60-day license that allows Iran to sell crude and petroleum products through Aug. 21. The license, which allows payments to be made in US dollars, comes as both sides are engaged in fragile discussions for a lasting peace deal.

The waiver even allows the US to import Iranian crude oil and other petrochemical and petroleum products, opening the door for the first ...