Trump Reverses Iran Oil Sanctions, Offers Waiver in Interim Nuclear Deal

The Trump administration has granted a sanctions waiver on Iranian oil sales as part of an interim agreement to end hostilities, reversing its February 2025 maximum-pressure campaign that aimed to zero out Iranian crude exports. Treasury Secretary Bessent signaled the shift in March 2026; Reuters confirmed the deal in June. The waiver's scope—what entities qualify, whether it includes secondary-sanctions protection for foreign buyers—remains undisclosed and will determine whether Iranian export volumes materially increase.