US temporarily eases sanctions on Iran, agrees to free passage through the Strait of Hormuz and accepts nuclear inspections

[Washington, Cairo Jiji] On the 22nd, the U.S. Treasury Department announced that sanctions against Iran will be temporarily eased until August 21st, allowing the sale of Iranian crude oil. This measure is based on a memorandum of understanding previously signed between the United States and Iran to end hostilities, and appears to be a response to the announcement by U.S. Vice President Vance that Iran would accept nuclear inspections.

Iran to undergo nuclear inspection, US vice president

Treasury Secretary Bessent pointed out on X (formerly Twitter) that Iran has committed to "free and open passage" through the Strait of Hormuz, a key oil transportation hub, and has accepted inspectors from the International Atomic Energy Agency (IAEA).

According to the announcement, trade and transportation of crude oil and petroleum products from Iran will be exempted from sanctions and will be temporarily permitted. China is the main importer of Iranian crude oil, but Japan and South Korea have also imported it in the past, but have stopped purchases due to sanctions being imposed.

The United States and Iran held talks in Switzerland on the 21st and 22nd about Iran's nuclear issue and resuming traffic through the Strait of Hormuz. They agreed to build a communication network to ensure safe navigation in the strait. Vance, who led the U.S. delegation, said at a press conference after the talks that Iran had agreed to accept nuclear inspections, calling it a "huge milestone." It was announced that working-level negotiations would continue in Switzerland.

However, an Iranian Foreign Ministry spokesperson said on the 22nd that the nuclear issue was not discussed during the talks. The agency explained that its ``cooperative relationship with the IAEA will continue'' in accordance with traditional procedures, but did not take a clear stance on whether it would accept the inspection.

US Secretary of State Rubio will be visiting Gulf countries from the 23rd to the 25th, attending the Gulf Cooperation Council (GCC) meeting in Bahrain. They will discuss things such as resuming navigation through the Strait of Hormuz. Meanwhile, Iran's National Assembly Speaker Ghalibaf and Foreign Minister Araghchi will reportedly visit Oman to discuss management of the strait, and negotiations over the normalization of navigation are likely to intensify.