US to allow Iran immediate oil sales under deal, WSJ reports

WASHINGTON, United States — WASHINGTON — The United States will permit Iran to sell oil and petroleum products immediately under a deal to end the war, the Wall Street Journal reported. The provision lifting sanctions is set to take effect when the agreement is signed on Friday and will also cover banking, transportation and insurance services. A senior US official said the sales would receive immediate exemptions but that the waivers would continue only as long as Iran acts on issues including reopening the Strait of Hormuz and its nuclear program. The official added that Tehran will not gain instant access to its billions of dollars in frozen assets. US and Iranian officials are preparing technical talks to set out implementation and monitoring mechanisms for the deal. Vice President JD Vance said Washington expects Tehran not to charge transit fees for shipping through the Strait of Hormuz, adding that the issue will be addressed within the framework of the peace agreement. US President Donald Trump said the signing would reopen the Strait of Hormuz, a critical transit point for Gulf energy exports, and end the US naval blockade on Iran. Pakistani Prime Minister Shehbaz Sharif announced late Sunday that the United States and Iran had reached a peace agreement ending all military operations, including in Lebanon, with a signing ceremony planned for June 19 in Geneva.