Iran Claims $12 Billion Unfrozen as Nuclear and Oil Talks Progress

The U.S. Treasury’s Office of Foreign Assets Control has issued a temporary license permitting the production and sale of Iranian crude, petrochemicals, and refined products through August 2026. Foreign Minister Seyed Abbas Araghchi confirmed that these waivers and the release of assets are tied to broader diplomatic efforts, crediting mediation from Pakistan and Qatar with helping to address the conflict in Lebanon.

Despite the progress, the path forward remains fragile. President Masoud Pezeshkian cautioned that the success of these talks hinges entirely on strict adherence to the agreed-upon obligations. His statement followed claims by U.S. President Donald Trump regarding mandatory international nuclear inspections and stipulations on how Iran must spend the released funds. While Ghalibaf signaled that both countries could cooperate to manage the Strait of Hormuz, he emphasized that the regional status quo has been irrevocably altered by the recent war.