Iran war day 116: US eases sanctions; Lebanon ceasefire holds
The US temporarily eased oil sanctions for 60 days after Iran agreed to allow international nuclear inspectors. Meanwhile, the ceasefire between Israel and Hezbollah in Lebanon largely holds, with both sides preparing for direct talks in Washington.
On the 116th day of the US-Israel war on Iran, significant diplomatic developments occurred. The US announced a temporary easing of oil sanctions for 60 days after Iran committed to allowing international nuclear inspectors to return. Following talks in Switzerland, Iran's top negotiator Mohammad Bagher Ghalibaf said an agreement had been reached to release $12 billion in frozen Iranian funds in two tranches of $6 billion each.
Iranian Deputy Foreign Minister Kazem Gharibabadi stated that technical talks with the US had concluded, and the next phase would be overseen by a high-level committee including Ghalibaf, Foreign Minister Abbas Araghchi, and US Vice President JD Vance. Iranian President Masoud Pezeshkian called for "full commitment to agreed obligations," emphasizing that the effectiveness of talks depends on precise implementation.
The US Treasury Department waived sanctions on the sale of Iranian crude oil, petrochemicals, and petroleum products until August 21. President Donald Trump claimed Iran would agree to weapons inspections and that released funds would be used to buy US farm products. However, Central Bank of Iran Governor Abdolnaser Hemmati denied this, saying Iran has no obligation to buy US products and that the first $6 billion is for basic goods and medicine.
Democrats on the US House Foreign Affairs Committee accused Trump of granting sanctions relief before progress on key issues like Iran's nuclear program and proxy forces. They stated that neither had been addressed.
In Lebanon, the ceasefire between Israel and Hezbollah has largely held, though fear of renewed hostilities has kept displaced people from returning. The UN said Sunday marked the first day since March 2 with no air attacks detected in Lebanon. Hezbollah deputy head Mahmoud Qamati warned the group would respond to any Israeli ceasefire violation. Israeli Prime Minister Netanyahu, Defense Minister Katz, and Chief of Staff Zamir said troops would continue to occupy southern Lebanon, maintaining a "security zone." Israel and Lebanon are scheduled to begin a new round of direct talks in Washington on Tuesday.
