U.S. Allows Iran to Sell Oil in Dollars for First Time in Decades

The U.S. cleared the way for Iran to sell oil in dollars, including to U.S. buyers, a reversal that came as Vice President JD Vance said Tehran had agreed to allow nuclear inspectors to return as early as this week.

The Treasury Department on Monday waived longstanding sanctions on those sales for two months while talks to reopen the Strait of Hormuz and address the issues of Iran's nuclear program and further sanctions relief proceed. For years, Iran used a shadowy network of tankers under sanctions to sell its crude, primarily to China.