US Eases Iran Oil Sanctions Amid 'Encouraging' Talks; $12bn in Frozen Funds Released

The United States has recently eased oil sanctions on Iran, issuing a 60-day waiver that permits the sale of Iranian crude oil and petroleum products globally, with even the possibility of imports into the U.S.. This development follows what mediators and U.S. officials described as "encouraging" talks aimed at a broader peace deal between Washington and Tehran. Concurrently, an agreement has been finalized for the release of $12 billion in frozen Iranian assets, with an initial tranche of $6 billion held in Qatar expected to be unfrozen, potentially for humanitarian goods and other non-sanctioned imports.

Despite the positive momentum in negotiations, conflicting statements have emerged regarding access for UN nuclear inspectors to Iranian facilities. While US Vice President JD Vance announced that Iran had agreed to allow International Atomic Energy Agency (IAEA) inspectors back into the country, calling it a "major milestone," Iranian officials contradicted this claim. Iran's Foreign Ministry stated that no new commitments were made on the nuclear issue during the recent talks, and that discussions on the matter had not yet begun or would continue under existing protocols. The IAEA previously reported difficulties in inspecting Iranian nuclear sites since June 2025 due to prior conflicts.