US Set to Waive Iran Oil Sanctions Following Peace Memorandum

This performance-based arrangement requires strict adherence to specific terms, including the abandonment of nuclear weapons, the neutralization of enriched materials, and the protection of navigation rights in the Strait of Hormuz. The administration’s pivot marks a significant shift from the sanctions policy re-imposed in 2018, which aimed to curb Tehran’s nuclear and regional influence.

Sanctions expert Brett Erickson described the move as a multibillion-dollar concession, noting that Iran currently holds over 100 million barrels of oil in storage. With roughly 60 million barrels already positioned outside the US-led blockade, Tehran stands to gain immediate financial relief. While the current memorandum focuses on a specific period for oil revenue, the draft agreement outlines a potential roadmap for the eventual removal of all US and UN sanctions according to a set timetable.