Oil Sales Resume, But Nuclear Steps Remain Unclear

Vice President JD Vance has said Iran agreed to invite U.N. nuclear inspectors back into the country after meetings in Switzerland. The claim has been presented as part of a memorandum of understanding meant to halt hostilities and begin formal talks. Although the announcement was described as a step forward, Iranian officials immediately disputed several details.

Under the memorandum, the Treasury Department has issued sanctions waivers that would allow Iran to sell crude and petroleum products during a 60-day period while final terms are negotiated. The waivers are intended to ease pressure on global energy markets, since the fighting had constrained supplies. Iran's foreign ministry pushed back and said it had made "no new commitments" on inspections while negotiators continue technical discussions. Oil prices fell after the announcement, as traders priced in the prospect of more supply. However, diplomats note that verification procedures and access details still must be agreed during the 60-day period, so practical steps are not yet final.