Trump's Iran Sanctions Reversal Could Undo Decades of Curbs

The Trump administration is pursuing a broad unwind of Iran sanctions as part of a deal to open the Strait of Hormuz and end the war, including a 60-day waiver window and a General License X to allow oil payments in US-dollar-denominated funds. Banks face complex compliance challenges and heightened risk aversion as they navigate the patchwork of new permissions and old restrictions. hawks push for escrow-like controls to ensure funds don’t flow to proxies, while legal and congressional hurdles—such as Iran-related reporting laws and questions about permanent removal—mean the unwind could be fragile and contingent, risking a flare‑up if the deal falters.