Iran says oil sales easier after deal with US

Tehran (ANTARA) - Iranian Foreign Ministry Spokesman Esmaeil Baghaei stated that the sale of oil and petrochemical products has become much easier after the signing of a memorandum of understanding with the United States. “Conditions for the sale of oil and petrochemical products have become much easier,” Baghaei said at a press conference in Tehran on Tuesday. A day earlier, the Office of Foreign Assets Control (OFAC) at the US Department of the Treasury issued a general licence authorising transactions related to the production, sale, shipment, and offloading of Iranian oil, petrochemical products, and petroleum products until 21 August. According to Baghaei, this development occurred after the two countries signed a memorandum of understanding that sets out a number of steps to de-escalate tensions. The memorandum of understanding was signed remotely by Iran and the United States in the early hours of 18 June. The document includes an agreement to end the military conflict that broke out on 28 February, as well as establishing a schedule for the United States to lift the naval blockade on Iranian ports. In addition, Iran has also committed to restoring shipping traffic in the Strait of Hormuz in accordance with the stages agreed upon in the memorandum of understanding.