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00:02The U.S. Treasury issued a 60-day exemption allowing Iran to produce and sell crude oil,
00:07as well as petrochemical and petroleum products in U.S. dollars through August 21, according
00:13to CNBC.
00:14The waiver also clears some vessels and entities previously subject to U.S. sanctions and could
00:19reopen the door to U.S. imports of Iranian crude.
00:22The move follows a memorandum of understanding between the U.S. and Iran and positive progress
00:27in talks in Switzerland.
00:28Analysts said the license could unlock about 67 million barrels of Iranian crude in floating
00:34inventory and deliver $8 billion to $9 billion in revenue.
00:38President Trump said oil profits were meant for Iran to buy American agricultural goods,
00:43not rebuild its military.
00:44For all things money, visit Benzinga.com.
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