20:52 - 22.06.2026

---

June 22, Fineko/abc.az. Following productive diplomatic breakthroughs in Switzerland, the US Department of the Treasury has taken a major de-escalation step by issuing a temporary general waiver on Iranian oil and petrochemical sanctions.

According to ABC.AZ, the newly published executive mandate legalizes the production, transit, sale, and clearing of Iranian-origin crude oil and derivatives through August 21, 2026.

Core Macroeconomic and Geopolitical Vectors:

• Hormuz Commitments and IAEA Oversight: US Treasury Secretary Scott Bessent announced via X that this conditional 60-day window serves as a strategic runway for technical peace talks. In return for the sanctions relief, Tehran has formally committed to guaranteeing unhindered commercial transit through the strategic Strait of Hormuz and re-admitting International Atomic Energy Agency (IAEA) inspectors.

• Direct Impact on Global Crude Pricing: Managed by the Office of Foreign Assets Control (OFAC), the waiver permits banking networks to clear dollar-denominated transactions for Iranian oil, alongside essential shipping, bunkering, and insurance logistics. Following the Treasury’s announcement, global energy desks shifted rapidly, driving Brent crude prices down by over 3.5% to trade near $77.7 per barrel.