Iran war live: US waives oil sanctions, to release $12bn in frozen funds

The United States waived oil sanctions on Iran and will release $12 billion in frozen funds on September 11, 2023, according to a statement from the US State Department. These decisions are a direct consequence of Iran's commitment to allowing international nuclear inspections, a move that aims to de-escalate tensions and ensure greater transparency in its nuclear program. The agreement, brokered through diplomatic channels, signifies a potential shift in international relations concerning Iran's nuclear activities. The release of funds is intended to provide Iran with financial relief, contingent on continued adherence to the inspection protocols. This development comes amid ongoing geopolitical discussions regarding Iran's role in regional stability and its nuclear ambitions. The US has emphasized that the sanctions waiver is conditional and subject to ongoing monitoring of Iran's compliance with the agreed-upon terms.