US Issues General License for Iranian Crude Oil and Petroleum Product Transfers

Islamabad (News Desk) — The United States Department of the Treasury has issued a general license related to Iran, allowing certain transactions involving crude oil and petrochemical products, according to US media reports.

The US Treasury said the license permits the production, transport, and transfer of Iranian crude oil and petrochemical products. It also allows limited import of Iranian petroleum-related goods into the United States.

The authorization will remain valid until August 21, 2026, the report added.

However, the license explicitly prohibits the supply or transfer of Iranian oil to countries including North Korea, Cuba, and Ukraine.

Iran, a country long under extensive international sanctions, will remain subject to restrictions on several forms of trade despite the new authorization framework.