US issues sanctions waivers on Iranian oil following MOU with Iran
The Trump administration has formally issued a waiver on the sale on Iranian oil, following through on a promise from the Memorandum of Understanding signed by President Donald Trump.
The waiver legalizes the sale of Iranian oil and allows transactions involving vessels that had been previously sanctioned.
The sanctions will be waived for a 60-day period beginning Monday and ending at 12:01 a.m. ET on Aug. 21.
The waiver also allows for "any payment of funds owed to Iran, the Government of Iran, or any blocked person for the purchase of crude oil" to be made in U.S. dollars.
The waiver does not, however, allow the sanctions on Iranian oil to be lifted for people in North Korea, Cuba and parts of Ukraine like Crimea.
-ABC News’ Shannon Kingston and Michelle Stoddart







