Vice President JD Vance, Pakistani Prime Minister Shehbaz Sharif and Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani speak ahead of talks between the United States and Iran at the Buergenstock resort in Obbuergen, near Lucerne, Switzerland, Sunday. The U.S. has waived Iran sanctions Tuesday. Photo by Urs Flueeler/EPA
June 23 (UPI) — President Donald Trump lifted sanctions on Iran releasing millions into the Iranian economy Monday,
allowing American dollar trade for the first time since 1979.
The U.S. Treasury on Monday issued a 60-day exemption allowing Iran to produce and sell crude oil, petrochemical and petroleum products in U.S. dollars through Aug. 21.
Under this general license, boats and entities that were sanctioned are also cleared to operate. The waiver could also open up allowing U.S. imports of Iranian oil, which hasn’t happened since the 1990s.
Trump defended the move on Truth Social Tuesday morning, saying that the money to Iran is to be used for food and supplies purchased from the United States.
“Despite their protestations and false statements to the contrary, coupled with the drumbeat of the Fake News, which is doing everything possible to make the U.S. Victory as small and insignificant as possible, Iran has fully and completely agreed to highest level Nuclear inspections long into the future (Infinity!!!). This will insure ‘Nuclear Honesty.’ If they did not agree to this, there would be no further negotiations!” the president posted.
“Based on this and other major concessions being made by Iran, I have agreed to allow the Hormuz Strait to remain OPEN, with no further Naval Blockade. However, all ships are remaining in place should it be necessary to reinstitute the Blockade, which seems, at this point, highly unlikely. The Money and/or Sanctions that the U.S. Treasury is releasing goes into escrow, controlled by the U.S.A., and will be used for the purchase of food and medical supplies, exclusively from the United States, including Corn, Wheat, and Soybeans from our great American Farmers. These are things that are desperately needed by Iran. This is a humanitarian crisis, and I feel it is necessary to help, NOW, before it is too late. Talks are going well!” he said.
Vice President JD Vance said Monday that during peace talks on Sunday, Iran agreed to invite the International Atomic Energy Agency back into the country for inspections.
But Iran denied that concession Tuesday morning.