Three days after peace talks in Switzerland concluded, developments are unfolding rapidly following what participants described as a positive outcome.
On Monday, the US Treasury issued a 60-day sanctions waiver authorizing the production, delivery, and sale of Iranian oil until August 21.
Under the waiver, Iran is permitted to sell its oil in US dollars on the global market at standard international prices.
$2B over 60-day period
Analysts estimate the waiver could generate between $37 million and $51 million in daily oil revenue for Iran, amounting to more than $2 billion over the 60-day period.
Iran has already begun offering its crude oil to buyers in India, South Korea, and Japan, markets that have largely avoided Iranian oil in recent years due to sanctions.
Bürgenstock talks
The Bürgenstock talks, mediated by Pakistan and Qatar, produced a 60-day roadmap toward a final agreement and established mechanisms aimed at ending fighting in Lebanon and maintaining commercial shipping through the Strait of Hormuz.
Iranian President Masoud Pezeshkian's visit to Islamabad marked his first foreign trip since the war began on Feb. 28.
According to his office, one of the primary objectives of the visit was to express appreciation to Pakistani Prime Minister Shehbaz Sharif for "his mediation between Iran and the United States."
During the visit, Iran and Pakistan reviewed full range of bilateral relations, including trade, energy, border security, and regional connectivity.
.png)
.png)
