TEHRAN: The United States has reportedly offered temporary relief from sanctions on Iranian oil exports as part of efforts to secure a peace agreement with Iran and reopen the Strait of Hormuz, according to Iran’s semi-official media.
The report said the proposal was presented during indirect talks between Tehran and Washington that are being mediated by Pakistan.
A source familiar with the negotiations said the sanctions relief would not take effect immediately, but would be implemented only after a final agreement is reached.
Neither the United States nor Iran has officially confirmed the reported proposal, and both governments have yet to respond publicly.
The reported offer follows a similar move in March, when the U.S. administration temporarily eased restrictions for 30 days on seaborne purchases of Iranian oil.
That step came after Iran significantly disrupted maritime traffic in the Strait of Hormuz in response to military tensions involving the United States and Israel, contributing to a sharp rise in global oil prices.
The shift is being viewed as a significant departure from Washington’s longstanding policy of limiting Iran’s oil exports through economic sanctions.
US officials have expressed concern that prolonged increases in energy prices could hurt economic activity, businesses and consumer spending.
The International Energy Agency has warned that conflict involving the United States, Israel and Iran, combined with damage to Gulf oil facilities and disruptions in the Strait of Hormuz, could trigger one of the most severe oil supply crises in modern history.
The agency said global oil inventories are declining rapidly and may not recover until late next year.