60-day Iran oil waiver could unlock billions in revenue

The U.S. Treasury issued General License X, a 60-day rollback allowing Iran to produce and sell crude and related products in dollars, through Aug. 21. It could unfreeze about 67 million barrels of crude and deliver an estimated $8–$9 billion in revenue, with Chinese buyers expected to accelerate purchases. The waiver also enables direct dollar payments to Iran’s central bank, reducing intermediary routing and potentially restoring Iran’s main revenue stream while U.S.–Iran talks proceed toward a final deal.