U.S. Temporarily Lifts Iranian Oil Sanctions; Dispute Over Nuclear Inspections Emerges

The United States has suspended sanctions on Iranian oil for 60 days, allowing Iran to sell crude oil and petrochemical products directly in U.S. dollars for the first time in decades. The move, announced June 22, marks a significant shift in American economic policy toward Tehran and follows the first round of U.S.-Iran negotiations held in Switzerland at Bürgenstöck. The temporary exemption, valid until August 21, eliminates the need for Iran to rely on complex intermediary networks previously used to circumvent sanctions. Under the agreement, Iran has also been promised the unfreezing of approximately $120 billion in assets, contingent on its adherence to a memorandum of understanding signed June 17.

However, a sharp dispute has emerged between the two nations over the nuclear inspection issue. U.S. Vice President J.D. Vance stated that Iran agreed to allow International Atomic Energy Agency (IAEA) inspectors to return to Iranian nuclear facilities, calling this "the most exciting" achievement for the American side and "a crucial milestone" toward permanently ending Iran's nuclear weapons program. President Trump reinforced this claim on social media, asserting that Iran "will agree to accept major weapons inspections to ensure long-term nuclear integrity." Yet Iran's Foreign Ministry spokesman Ismail Bagaei flatly contradicted these assertions, declaring that Tehran made no new commitments regarding nuclear inspections and that any IAEA interactions will proceed under existing procedures established by parliament and the Supreme National Security Council. He emphasized there are currently no plans for IAEA inspectors to visit damaged Iranian nuclear facilities.

The negotiations also addressed regional security concerns. Both nations agreed to establish a coordination mechanism for the Strait of Hormuz, including a hotline and coordination center to ensure safe commercial passage. Iran's chief negotiator, Parliament Speaker Mohammad Baqer Qalibaf, confirmed Iran's commitment to keeping the strait open while asserting that Iran will continue to manage the waterway and that it will never return to pre-war conditions. Additionally, the U.S., Iran, and Lebanon agreed to establish a conflict de-escalation group, though Israeli military operations in southern Lebanon have continued despite the ceasefire agreement outlined in the memorandum.

The first round of talks occurred amid dramatic tensions. According to Iranian officials, talks nearly collapsed when Trump issued threatening statements against Iran's leadership and territorial integrity. Qalibaf said the Iranian delegation initially walked out, citing the memorandum's stipulation against threats or coercion. Vance later characterized the disruption as exaggerated media reporting, claiming the teams continued discussions for approximately nine hours afterward. Qatar and Pakistan, serving as mediators, announced a "roadmap" for achieving a final agreement within 60 days. Some sources speculate that Trump moderated his rhetoric following the near-breakdown, shifting from threatening language to emphasizing mutual "respect" rather than fear.

The temporary sanctions relief represents a dramatic policy reversal for the Trump administration, which withdrew from the 2015 nuclear agreement in 2018 and subsequently reimposed sanctions. However, significant uncertainties remain. Iran's President Masoud Pezeshkian warned that progress depends on both sides fulfilling their commitments and stated Iran will not compromise on uranium enrichment rights. Trump warned that if Iran violates the accord, he will "do what needs to be done," language suggesting potential military action without explicit threats. Additionally, Israel has rejected the memorandum's provisions regarding Lebanon, with Prime Minister Netanyahu declaring that Israeli forces will continue military operations in southern Lebanon to counter security threats.