The U.S. on Monday authorized Iranian oil sales through August after "productive talks" between Tehran and Washington in Switzerland over the weekend, Treasury Secretary Scott Bessent said.

"As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil," Bessent said in a social media post.

Vice President JD Vance said earlier Monday that "great progress" was made during the talks in Switzerland, despite Iran's declaration over the weekend that it had closed the Strait of Hormuz. U.S. Central Command said Hormuz had not been closed.

Vance said Iran agreed to allow weapons inspectors from the International Atomic Energy Agency back into the Islamic Republic. Bessent said Tehran committed to free and open transit through Hormuz.

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