US eases some sanctions on Iran, including oil

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The Treasury Department said that now that Iran has fulfilled its initial nuclear commitments under the deal, "the administration has taken the necessary steps to pause efforts to further reduce Iranian crude oil exports."

This will allow the six current customers of Iranian oil to maintain their purchases at current reduced levels for the six-month duration of an interim nuclear deal between Iran and world powers, the Treasury Department said.

The United States also took steps to suspend sanctions on non-U.S. people engaged in transactions related to Iran's petrochemical exports, as well as certain trade in gold and precious metals with Iran and provision of goods and services to Iran's automotive sector.

(Reporting By Jeff Mason and Steve Holland)

FILED UNDER: Basic Materials Cyclical Consumer Goods Energy

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