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16 Jun 2026, 17:18

The Wall Street Journal and Reuters reported separately on Tuesday, citing informed sources, that the memorandum of understanding reached between Iran and the United States will allow Iran to "immediately" begin selling its oil and other petroleum products.

Sources from both media outlets stated that the provisions related to the lifting of sanctions on Iran's oil sales will be implemented after the agreement is signed this week, and will include services such as banking, transportation, and insurance that are necessary to facilitate these sales.

The Wall Street Journal reported, citing these individuals, that with the implementation of this memorandum of understanding, the barriers caused by sanctions on Iran's oil exports and related support services will be removed to enable these transactions.

An American official also emphasized in a conversation with Reuters that this agreement has specific conditions.

Speaking on the condition of anonymity, he said: "This is a performance-based agreement. Iran can only benefit from the advantages of this memorandum if it adheres to all the clauses it has agreed to; including not having nuclear weapons, neutralizing its enriched materials, and not interfering with the free flow of shipping in the Strait of Hormuz."

The memorandum of understanding between Iran and the United States, which was electronically signed on June 14, is set to be signed in person on June 19 in Switzerland with the presence of senior officials from both countries.
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