WSJ reports the Trump-Iran MOU allows Tehran to immediately sell oil, and may waive banking and transport sanctions to facilitate transactions.
If accurate, this is far more alarming than a narrow General License (like the one Treasury issued in March covering only crude already loaded on vessels). But if it's real, the administration is trading away its most durable economic lever before the hard part of the negotiation has even started.
Broadening authorization to financial transactions would crack the core architecture of U.S. oil and financial sanctions against Iran, arguably the most powerful economic leverage the U.S. holds over this regime, absent the naval blockade.
What makes this especially dangerous: if broad relief is offered upfront while negotiations drag on for months, it normalizes Iranian oil flows to China, India, and the UAE, and critically, normalizes the repatriation of Iran's oil revenue back to Tehran. Revenue that today sits trapped in Chinese bank accounts due to secondary financial sanctions.
Once that normalization sets in, re-establishing today's level of leverage would take years, not weeks.
wsj.com/world/middle-east/th…