US Secretary of State John Kerry on Monday approved a waiver to ease sanctions on Iran, after the Islamic republic began to impose curbs on its suspect nuclear program.
Kerry has approved the waiver, which will allow limited relief to help Iran’s crippled economy, and it would be sent to Congress on Monday, she added.
As agreed with world powers under a six-month deal reached on November 24, the US administration “has taken the necessary steps to pause efforts to further reduce Iranian crude oil exports,” a separate US fact sheet said.
This will allow the six nations which buy Iranian oil to continue to do so for the duration of the deal.
Sanctions will also be suspended on non-Americans trading in Iran’s petrochemical exports, as well as certain trade in gold and precious metals and Iran’s automotive sector.