The United States is preparing to permit Iran to sell oil and will waive related sanctions as part of a peace deal brokered by former President Donald Trump, the Wall Street Journal reported. The move would mark a sharp reversal of the maximum-pressure policy that has choked Tehran’s crude exports for years.
What the Report Says
The Journal, citing people familiar with the matter, said the Trump administration has agreed to lift penalties that block Iran from shipping crude to international buyers. In return, Iran is expected to halt its nuclear enrichment activities and curb support for proxy militias in the Middle East. Neither the White House nor Iran’s mission to the United Nations immediately confirmed the report.
Sanctions Relief Details
Under the reported framework, the U.S. would issue waivers allowing specific countries—likely China, India and South Korea—to import Iranian oil without facing American penalties. The waivers would be temporary but renewable, giving Tehran a steady revenue stream. The Treasury Department would also unfreeze billions of dollars in Iranian assets held abroad.
Why Now
The deal comes as Trump seeks a foreign-policy win before the next election cycle. His administration has spent months quietly negotiating through Omani and Qatari intermediaries. Iran’s economy, battered by inflation and unemployment, has made its leadership more willing to negotiate. The Journal reported that the agreement’s outlines were finalized in a series of secret meetings in Geneva last month.
Market Reaction
Oil prices slipped in early trading on the news. Brent crude fell 2% on expectations that Iranian barrels—roughly 1 million barrels per day—could return to a market already grappling with oversupply. Traders are now watching for an official statement from the U.S. State Department, which is expected within days.
