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macroJun 22, 2026, 1:20 PM

US Issues Iran Oil License, Allowing Iranian Oil Exports Until August 21

The US has granted Iran a general license for oil-related activities, permitting the production, delivery, and sale of Iranian crude and petrochemicals through August 21, marking the first official return of Iranian oil to global markets since 2018.

OIL

The United States has issued a general oil-related license to Iran, authorizing the production, delivery, and sale of Iranian-origin oil, petrochemicals, and petroleum products until August 21st. This marks the first official return of Iranian oil to global markets since 2018, when the US reimposed sanctions after withdrawing from the nuclear deal.

The license covers a broad range of activities along the supply chain, effectively opening a window for increased Iranian exports. Market participants are assessing the potential impact on global oil supply and prices, as additional Iranian barrels could ease tightness in the physical market.

Source: The Kobeissi Letter