Iran Says US Offered Oil Sanctions Relief as Trump Warns 80-Day War Deal Clock Is Ticking
Updated
Updated · CBS New York · May 18
Iran Says US Offered Oil Sanctions Relief as Trump Warns 80-Day War Deal Clock Is Ticking
8 articles · Updated · CBS New York · May 18
Tasnim, citing an unnamed source close to Iran's negotiators, said the latest U.S. draft would suspend sanctions on Iranian crude exports while talks continue toward a final peace deal.
The claim came after Tehran said it had sent revised terms to Washington through Pakistani mediators and was focused on ending the war, not yet on detailed nuclear commitments.
Trump intensified pressure Sunday, saying Iran had little time left to accept a deal and threatening there would be "nothing left of them" if leaders did not move fast.
Markets swung on the report: Brent, which had jumped above $110 overnight, eased to about $108 a barrel, while Wall Street opened higher after earlier global stock weakness.
The sanctions-relief offer remains unconfirmed by Washington, and Iranian sources still said fundamental gaps persist over U.S. demands on enriched uranium and nuclear restrictions.
As shippers pay Iran directly for safe passage, has the US lost control of the world's most vital oil chokepoint?
With inspectors blocked and Iran's uranium stockpile unknown, is the world flying blind into a new nuclear crisis?
Oil Shock 2026: US Sanctions Waivers, Soaring Prices, and the Global Fallout from the Strait of Hormuz Crisis
Overview
In May 2026, the global energy market faces severe instability as worsening oil shortages and a surge in prices push commercial inventories in developed countries toward critically low levels. Buffers for oil supply are nearly exhausted, and inventories are drawing down at an unprecedented rate, leaving the market in deficit until late in the year. This crisis is intensified by disruptions in key shipping routes, prompting the US to issue a temporary waiver for Iranian oil exports in an urgent attempt to stabilize prices. However, these measures spark debate over their effectiveness and the long-term impact on US sanctions policy and global energy security.