US Treasury lifts Iran-related sanctions after Oman talks: Reuters

The US Treasury Department has announced the lifting of sanctions related to Iran, according to Reuters.

The move follows negotiations between Iran and Oman after US President Donald Trump decided to halt a planned strike against Iran, with talks focusing on reopening the Strait of Hormuz.

The negotiations resulted in a proposal from Iran and Oman regarding the Strait of Hormuz, which called for the cancellation of shipping transit fees. President Trump stated that the Strait would either reopen very soon or Iran would face a severe strike.