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Iran war live: US waives oil sanctions, to release $12bn in frozen funds

US says the decisions follow Iran’s commitment to allow international nuclear inspections.

Commuters ride past an electronic board featuring Iran's President Masoud Pezeshkian (C), Pakistan's Prime Minister Shehbaz Sharif (L) and President Asif Ali Zardari, displayed along a street in Islamabad on June 22, 2026 on the eve of Pezeshkian's visit to Pakistan amid the US-Iran peace talks.
Video Duration 07 minutes 59 seconds 07:59

US-Iran MoU is a 'golden opportunity' to end decades of hostility: Ex-Iran negotiator

By Lyndal Rowlands and Daniel Khalili-Tari
Published On 23 Jun 2026

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  • Iran’s top negotiator says an agreement has been reached with the US to release $12bn in frozen funds.
  • The US Treasury Department announces a temporary easing of sanctions to allow the sale of Iranian oil and petrochemicals until August 1.