NEWS: Trump has issued a 60-day waiver suspending U.S. sanctions on Iranian crude oil, petroleum, and

[riversedge]

I can't find any articles at the moment about this.


MeidasTouch @MeidasTouch
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30m
NEWS: The Trump administration has issued a 60-day waiver suspending U.S. sanctions on Iranian crude oil, petroleum, and petrochemical products, allowing Iran to sell its oil on the global market—including to the United States—through August 21, 2026.

The Treasury Department's new OFAC General License X also authorizes related banking, insurance, shipping, and other transactions necessary to facilitate those sales, while excluding transactions involving Cuba, North Korea, and the Russian-occupied regions of Ukraine.

Link to tweet

?s=20

[dalton99a]

1. AP: US Treasury issues a 60-day license waiving sanctions on Iranian oil as part of interim agreement to end Iran war

https://apnews.com/live/trump-administration-iran-updates-06-22-2026

US Treasury waives sanctions on Iranian oil as part of interim agreement to end war
By FATIMA HUSSEIN

The license authorizes the production, delivery and sale of Iranian oil. It will last through Aug. 21.

The license emerged Monday as U.S. Vice President JD Vance said his lengthy talks with senior Iranian officials in Switzerland created a “good foundation for a successful final deal.” Negotiators are seeking a permanent end to the war the U.S. and Israel began in late February.

...

[underpants]

2. Will they take algae in trade?

We’ve got a lot of it.

[kentuck]

3. He's hoping that will get him thru the election cycle...

...and then, it doesn't matter what happens.

[Midnight Writer]

4. 60 days. What does that translate to in Trump Commitment time? About 5 hours or so until he changes his mind?

His mind bounces around like a pinball in an arcade machine.

[Lovie777]

5. Iran is playing this administration......

[bucolic_frolic]

6. Buy the dip on crude

He's looking for a cheap way to refill strategic petroleum reserve, as are most countries, so the price will only plunge so far.

[SamuelTheThird]

7. check it out

https://www.democraticunderground.com/100221321021

[Melon]

8. I really doubt both statements. Oil can absolutely

Plunge far.
I don’t see why any country rebuilds reserves to a substantial degree until oil drops even more. We are currently in the $70’s with a market that will be oversupplied if the Middle East war is resolved.

[bucolic_frolic]

9. Countries rebuild their reserves because Trump policy can change with one tweet

This is just to plunge and create a buying opportunity. His oil companies and buddies don't want $50 oil. They'll be quite happy if the plunge stops at $65

[AZJonnie]

11. Indeed, I think many (if not most) of the frackers go out of business with oil @ 50/barrel for a prolonged period

My understanding is $50 is barely break-even for a lot of the plays, in which case, why bother bringing it up and out?

[Melon]

12. I never said $50....but what exactly prevents a $60?

Asking Exxon what the oil price will be and them respond $200 a barrel is like asking a peanut farmer what he thinks the price of peanut butter should be….

I was with some of the Exxon talking heads a few weeks ago. There is at least a 4 million barrel overhang per day of oil next year when this is resolved. The world is consuming 10 million barrels less a day due to some demand destruction, conservation, and other chemical technologies filling in.

We are a lot closer to $70 barrel oil than $200 when the straights open…and $70 is not a barrier. Volume in the US directly translates to production costs. They aren’t as quick to stop drilling as you think. Lower prices will shut off some well starts, but it won’t cap production.

The story as I’ve said now is the restructuring of global supply. Who is going to turn down rates to raise prices? The US won’t. Russia can’t. Canada is largely captive to the US. Venezuela continues to increase. The Middle East need to make up for lost revenue and they already lost UAE from OPEC.

[RedWhiteBlueIsRacist]

10. "Blood For Oil, the Sequel." An Eastern Hollywood Production, 1600 Pennzoil Ave, Washington DC 08647

Last edited Mon Jun 22, 2026, 01:35 PM - Edit history (1)