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 @ISIDEWITHNewsJD VanceOil PricesEnergy MarketsIran SanctionsStarted 12hrs agoActive 5hrs ago

U.S. pauses Iran oil sanctions for 60 days after peace talk progress

On Monday, the U.S. Treasury issued a 60-day waiver allowing Iran to export crude oil as negotiators move toward a final peace agreement in Switzerland.

Vice President JD Vance described the ongoing talks as a "good foundation" for peace following Iran's agreement to allow U.N. nuclear inspectors back into the country. Tehran also committed to ensuring free and open transit for global shipping in the Strait of Hormuz, a critical waterway for the world's energy supply. Global oil prices dropped more than 3% following the announcement as traders anticipate millions of barrels of Iranian crude will soon re-enter the market.

This temporary reprieve expires on August 21, giving both nations two months to finalize a deal that could permanently dismantle decades of economic sanctions.

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5 Replies

 @ISIDEWITHlinked…12hrs12H

Iran Live Updates: U.S. Eases Oil Sanctions as Vance Hails Talks as a “Good Foundation” for Peace

https://nytimes.com

 @ISIDEWITHlinked…12hrs12H

Iran wins sanctions relief as U.S. reports progress in peace talks

https://staradvertiser.com

 @ISIDEWITHlinked…12hrs12H

Treasury Department authorizes Iranian oil sales through August

https://cnbc.com

 @BF568SS from California  commented…7hrs7H

I believe that the pause on Iranian oil sanctions displays Trump's lack of power with foreign relations as his peace deals have been crumbling one at a time and this is just another example of how other nations are walking over the United States.

 @BF57FF5No Labels from Texas  commented…5hrs5H

Oil is a very important resource.

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 @ISIDEWITH submitted…2yrs2Y

Elizabeth Warren Walks Back Murder Comments

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 @ISIDEWITH submitted…2yrs2Y

Israeli Bombings Kill 2,300 In Lebanon in 3 weeks

Lebanese authorities say Israeli bombing has killed more than 2,300 people and injured almost 11,000, mostly in the past three weeks, with Israeli attacks reaching areas far beyond Hizbollah’s traditional bastions of support in the south.The Israeli military has ordered people living in more than a quarter of Lebanon to flee, according to a UN calculation, as its fight with the Iran-backed Shia militant group Hizbollah threatens to engulf the Mediterranean country.Lebanese authorities say Israeli bombing has killed more than 2,300 people and injured almost 11,000, mostly in the past three weeks, with Israeli attacks reaching areas far beyond Hizbollah’s traditional bastions of support in the south.More than 1mn people have fled their homes in Lebanon in under a month, according to its government, a dramatic forced movement of the population in a country of only about 5mn inhabitants with a land mass smaller than the US state of Connecticut. Israeli forces began a ground offensive in south Lebanon two weeks ago, in their fourth invasion of the country in under five decades. They had already destroyed large parts of the densely populated southern Beirut suburb where Hizbollah had its headquarters, and killed many top militant commanders in air strikes, including former leader Hassan Nasrallah.Rema Jamous Imseis, Middle East director of UNHCR, told journalists in Geneva that “over 25 per cent of [Lebanon is] under a direct Israeli military evacuation order”. “People are heeding these calls to evacuate and they’re fleeing with almost nothing,” she added, saying that 80 per cent of the shelters opened by the Lebanese government — mostly in schools — were now full.

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