Trump Administration to Immediately Lift Iranian Oil Sanctions Under New Agreement

By Timothy Gardner

WASHINGTON, June 16 (Reuters) – The U.S. will allow Iran to immediately begin selling oil and fuel under the memorandum of understanding the two sides reached to end the war, a senior U.S. official said on Tuesday.

The provision for waiving sanctions on Iranian oil sales takes effect once the agreement is signed this week and also covers services including banking, transportation and insurance to facilitate the sales, the source said.

The U.S. official said the agreement has conditions.

“This is a performance-based agreement,” the person said on condition of anonymity. “Iran can only access any