Iran will be allowed to immediately sell oil and fuel under the US-Iran deal, with sanctions relief taking effect upon the signing of an agreement, according to a report published on Tuesday.
The Wall Street Journal, citing people familiar with the matter, reported that the exemption provision also covers necessary services, including banking, transportation and insurance needed to facilitate transactions.
The report comes a day after senior US officials said Washington and Tehran signed a Memorandum of Understanding (MOU) to end the four-month war and create a framework linking economic measures, nuclear verification and regional security commitments.
The nonprofit group United Against a Nuclear Iran reportedly said that an Iranian supertanker carrying crude oil had left the port of Chabahar, bypassed the US blockade and was sailing through the Gulf of Oman on Tuesday with its location tracking system active.
Asked about the report, a senior US official told Anadolu that the agreement between the US and Iran is a “performance-based agreement.”
“Iran can only reap any benefits of the Memorandum of Understanding if it adheres to all the points it agreed to, including non-nuclear weapons, neutralization of enriched material, and non-interference in the free flow of navigation in the Strait of Hormuz,” the official added.
A memorandum of understanding was signed electronically between the US and Iran on Sunday, which includes an extended pause in fighting, the reopening of the Strait of Hormuz, while paving the way for talks on Iran’s nuclear program tied to sanctions relief, according to US officials.