Iran says US agreed to unblock $12B in funds, waives oil sanctions for 60 days

Iran’s lead negotiator said the United States agreed to release $12 billion in frozen Iranian funds under the ceasefire, while Washington issued a two-month waiver allowing Iranian crude sales. Tehran is already pitching cargoes to buyers beyond China — India, South Korea, and Japan. The sanctions architecture took a decade to assemble and is being traded away for a sixty-day window. Whatever settlement rails took root during the blockade do not get pulled up just because the freeze lifts.