U.S. authorizes Iranian oil sales

Rina Schäuble· Host0:00

[upbeat music] Good afternoon. Today is Monday, June 22nd. I'm Rina Schäuble filling in for Kim Kahn. Our top stories today: stocks retract, US authorizes Iranian oil sales, and Micron partners with Anthropic. Looking at our top story, Wall Street's major averages after negotiations for a peace deal between the US and Iran almost fell through over the weekend. In addition, big tech stocks struggled. The Trump administration has issued a temporary license allowing Iran to sell some of its energy exports through August 21st following productive talks between the US and Iran, so said Treasury Secretary Bessent on Monday, opening the door for eventually ending many sanctions programs as part of negotiations between the two countries. Obsidian Risk Advisors Managing Principal Brett Erickson told Bloomberg, "This waiver doesn't just weaken the pressure campaign, it puts it into reverse." Ship owners, traders, and buyers will now have to evaluate whether they have time to source, finance, and complete such purchases after years of not dealing with Iran because of sanctions. Vice President JD Van said great progress was made during the talks in Switzerland despite Iran's declaration over the weekend it had closed the Strait of Hormuz, and that Iran has agreed to allow weapons inspectors from the International Atomic Energy