Following the signing of the Islamabad memorandum of understanding between Iran and the United States and subsequent implementation talks in Switzerland, the US Treasury granted Iran a 60-day authorization allowing the sale of crude oil, petroleum products and petrochemicals without sanctions through Aug. 21, 2026.

In an interview with IRNA, Deputy Oil Minister for International Affairs and Commerce Seyed Ali-Mohamad Mousavi said the ministry intends to make "maximum use" of the 60-day window while hoping sanctions relief becomes permanent.

"The modernization of Iran's oil markets is one of the ministry's key policies," Mousavi said. "We will make the most of this opportunity, but after years of sanctions we have no intention of revealing the mechanisms we use to receive oil revenues."

Shortly after the sanctions waiver was announced, Oil Minister Mohsen Paknejad traveled to India to attend the 11th BRICS Energy Ministers' Meeting, where he held talks aimed at reviving bilateral energy cooperation.

Mousavi said discussions with Indian officials focused on expanding refinery and petrochemical cooperation, while meetings with South African officials included preliminary agreements to resume Iranian oil exports and strengthen technical and engineering collaboration.

India, once one of Iran's largest oil customers, remains a strategic target for Tehran as it seeks to diversify export destinations while preserving its long-term energy partnership with China.

"China stood by Iran during the most difficult years, and we are determined to preserve that strategic relationship," Mousavi said. "At the same time, we want to establish stable, long-term cooperation with India and other countries interested in purchasing Iranian oil."

He said India expressed willingness to restore oil trade if conditions permit, adding that Iranian officials used bilateral meetings during the BRICS summit to signal the country's readiness to supply oil to international buyers.

Despite the temporary sanctions relief, Mousavi said Iran will not disclose details of its payment channels.

"We have established mechanisms with China, and similar arrangements will be developed with other countries during this period," he said. "The methods we use to sell oil and receive payments are commercial secrets developed over years of sanctions."

Mousavi also criticized sanctions and attacks on Iranian energy infrastructure, arguing that political conflicts should not jeopardize global energy security.

He said stable energy supplies have long been a core principle of the Organization of the Petroleum Exporting Countries and accused countries imposing sanctions on Iran of undermining that objective.

Asked whether the ministry expects higher exports during the 60-day period, Mousavi said he remained optimistic.

"We hope negotiations produce positive results and that sanctions relief is extended," he said. "The Oil Ministry will certainly seize this opportunity and work to maximize exports."

On the issue of frozen Iranian oil revenues abroad, Mousavi said responsibility for recovering blocked funds rests primarily with Central Bank of Iran, while the Oil Ministry remains responsible for crude sales and is prepared to assist whenever needed.