US Treasury Department Announces Lifting of Sanctions Related to Iran

The U.S. Department of the Treasury announced the lifting of sanctions related to Iran. This comes after reports confirmed that an agreement between the United States and Iran regarding the Strait of Hormuz was imminent. U.S. President Donald Trump stated that the Strait of Hormuz could open on Wednesday or Thursday, noting that “the situation would be extremely bad for Iran if we do not reach an agreement.”