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The United States has accepted a temporary waiver of Iran's oil sanctions during the negotiation period, Iran's semi-official Tasnim News Agency reported Monday, citing a source close to the Iranian negotiating team.
The waiver of Iran's oil sanctions was a claim that Washington has not confirmed, but it sent Brent crude prices reversing earlier gains and global bonds rising on hopes of a possible breakthrough in stalled U.S.-Iran peace talks.
According to Tasnim, a source close to Iran's negotiating team said that, unlike in previous American proposals, the new U.S. text accepted waiving oil sanctions during the negotiation period.
Tasnim's report noted that a waiver, known in U.S. sanctions terminology as a "waive" or OFAC waiver, constitutes a temporary suspension or exemption rather than permanent lifting.
The conditions in both sides' proposals were said to be "converging."
Iran maintains that full lifting of all sanctions must be part of any final American commitment, and the U.S. has offered Office of Foreign Assets Control (OFAC) waivers only until a final agreement is reached, not permanent removal.
Regional tensions have escalated since the U.S. and Israel launched strikes against Iran in February. Tehran retaliated with strikes targeting Israel as well as U.S. allies in the Gulf, along with the closure of the Strait of Hormuz.
A ceasefire took effect on April 8 through Pakistani mediation, but talks in Islamabad failed to produce a lasting agreement.
U.S. President Donald Trump later extended the truce indefinitely.
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