00:00The U.S. announced it will drastically ease Iranian oil sanctions as both sides continue negotiations for a lasting ceasefire.
00:08The move is part of a Memorandum of Understanding signed by the U.S. and Iran last week, which will
00:13allow the sale of Iranian oil products for 60 days.
00:17In exchange, Iran has committed to reopening the Strait of Hormuz and allowing international inspectors into its nuclear facilities, according
00:25to U.S. Treasury Secretary Scott Besant.
00:28The announcement came on Monday as U.S. Secretary of State Marco Rubio began a two-day visit to the
00:35Middle East.
00:35He is expected to sell the MOU to countries in the region, though many remain skeptical about the terms.
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