Trump’s Treasury Department says that Iran can now sell oil, stripping decades of U.S. sanctions policy in one fell swoop—and it’s not clear that the United States is getting anything in return. Treasury Secretary Scott Bessent announced Monday that the U.S. had issued a “temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil,” in return for the country’s commitments to maintaining “free and open transit” in the Strait of Hormuz and admitting inspectors