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US Treasury Authorizes Production, Delivery, Sale of Iranian Oil, Petro Products

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The US Department of the Treasury on Monday said it has issued a general license authorizing the production, delivery and sale of crude oil, petrochemical products and petroleum products of Iranian origin through Aug. 21.

"Transactions authorized by this general license include the importation into the United States of crude oil, petrochemical products, and petroleum products of Iranian origin, where such importation is ordinarily incident and necessary to the sale, delivery, or offloading of such crude oil, petrochemical products, or petroleum products authorized by this general license," the Treasury said.

The license does not authorize transactions involving Cuba, North Korea, the Crimea Region of Ukraine or other specified regions of Ukraine, the Treasury said.

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