Iran war day 116: US eases Iran sanctions; Lebanon ceasefire holds | Explainer News
U.S. Temporarily Eases Oil Sanctions on Iran Following Nuclear Inspection Agreement
By Al Jazeera Staff
Published: June 23, 2026
The United States has announced a temporary easing of oil sanctions on Iran for a period of 60 days, coinciding with Iran’s commitment to reinstate international nuclear inspections. This decision emerged following a series of negotiations held in Switzerland, where Iranian negotiator Mohammad Bagher Ghalibaf reported an agreement to release $12 billion in frozen Iranian assets.
The discussions took place amid ongoing efforts to deescalate hostilities related to the U.S.-Israel conflict with Iran. Following these talks, U.S. officials waived sanctions pertaining to the sale of Iranian crude oil, as well as petrochemicals and petroleum products, until August 21.
Iran’s Deputy Foreign Minister Kazem Gharibabadi confirmed that technical discussions with U.S. representatives had concluded. He mentioned that future conversations will proceed under the oversight of a high-level committee that includes Ghalibaf and U.S. Vice President JD Vance.
Ghalibaf cited “good achievements” in the negotiations and reaffirmed the release of the initial $6 billion tranche of frozen funds. He defended the talks with the U.S., emphasizing their focus on addressing issues related to the ongoing violence in Lebanon.
In a related diplomatic effort, the Omani Foreign Minister, Badr Albusaidi, reaffirmed commitments to ensure “toll-free passage” through the Strait of Hormuz after discussions with Iranian diplomats in Muscat.
Former U.S. Ambassador Henry Ensher suggested that the release of frozen Iranian assets and a resumption of maritime traffic reflect mutual interests between Washington and Tehran, indicating that both parties aim to present a favorable narrative regarding the negotiations.
In Iran, President Masoud Pezeshkian called for adherence to the agreed-upon obligations, stating that the success of the talks hinges on precise implementation. Additionally, Central Bank of Iran Governor Abdolnaser Hemmati refuted U.S. President Donald Trump’s comments regarding the use of released funds for purchasing U.S. agricultural products. Hemmati clarified that the funds would primarily be allocated for “basic goods and medicine.”
In the U.S., Trump stated that Iran is likely to agree to weapons inspections and that the released assets would be utilized for American produce. However, Democrats on the House Foreign Affairs Committee criticized the administration for offering sanctions relief before resolving key issues, including Iran’s nuclear program and alleged terrorist activities.
Meanwhile, ceasefire agreements between Israel and Hezbollah continue to hold, though tensions remain high. The United Nations reported a notable decrease in airstrikes in Lebanon as of Sunday, marking a rare lull since the escalation of conflict in March.
Hezbollah’s deputy political chief, Mahmoud Qamati, warned that the group would respond to any violations of the ceasefire, expressing readiness to confront Israeli actions. Israeli officials stated that military operations would persist in southern Lebanon, a region currently occupied by Israeli forces.
Direct talks between Israel and Lebanon are set to resume in Washington, D.C., on Tuesday, as both sides continue to navigate a complex landscape of regional instability and diplomatic efforts.
