US agrees to lift embargo on Iran’s oil, could be a measure to ease tensions before presumed talks: Report

The US has agreed to lift the ban on Iran's oil sector for some time. This decision has been taken under the new draft framework of negotiations between Washington and Tehran.

Written by: Tahir Qureshi Edited by: Tahir Qureshi

Updated: May 18, 2026, 8:39 PM IST

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New Delhi: The US has agreed to lift the ban on Iran’s oil sector for some time. This decision has been taken under the new draft framework of negotiations between Washington and Tehran. This information has been given by Iran’s official news agency Tasnim News with reference to a source.

According to the source, the new text that America has prepared this time is completely different from all its previous proposals. In this, the US has agreed to temporarily lift Iran’s oil sanctions during the negotiation period.

Proposal to Suspend OFAC Sanctions

Experts say that lifting the restrictions simply means suspending or suspending them temporarily. Its purpose is to create a positive atmosphere for negotiations so that both countries can reach a final agreement.

Suspension Of OFAC Sanctions

Meanwhile, America has put forward another important proposal. The US administration has suggested that the sanctions of OFAC (Office of Foreign Assets Control) should be suspended until the two countries reach a final agreement or understanding.

OFAC is the unit of the US Treasury Department that works to enforce international sanctions. If its sanctions are eased, it will be much easier for Iran to trade internationally, especially in the oil market.