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US license for Iranian oil transactions does not apply to Donbass, Crimea — Treasury

The license allows buyers to make payments for Iranian oil and petroleum products in US dollars

WASHINGTON, June 22. /TASS/. The US authorization for transactions involving Iranian oil does not apply to Donbass, Crimea, Novorossiya, North Korea or Cuba, according to General License X published by the US Treasury Department's Office of Foreign Assets Control (OFAC). The document suspended the application of US unilateral sanctions on Iran's oil sector through August 21 this year.

The license states that restrictions continue to apply to legal entities "located in the Democratic People's Republic of Korea, the Republic of Cuba," as well as in Donbass, Crimea and Novorossiya, or organized under the laws of those territories.

At the same time, the license allows buyers to make payments for Iranian oil and petroleum products in US dollars.

As US Treasury Secretary Scott Bessent confirmed on his X social media account, the license was issued following "productive talks" between Iranian and US delegations in Switzerland. As part of that dialogue, the Treasury Department issued "a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil," Bessent wrote.

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