The US Treasury has approved Iranian oil and petrochemical sales through mid-August while the Trump administration says frozen Iranian assets will be released into a US-controlled escrow account to buy American agricultural and medical supplies.President Donald Trump and Vice President JD Vance are promoting the arrangement as a boon for American farmers, saying the funds will be routed through the escrow to purchase corn, wheat and soy from US producers during a 60-day negotiation window that would also reopen the Strait of Hormuz.Iran's ambassador in Geneva and the Foreign Ministry spokesperson reject the US characterization, saying any purchases will depend on price and quality and insisting Tehran retains control over how it spends its funds.Analysts and sanctions experts warn enforcement is uncertain given
Iran's trade ties to
Brazil,
India and the
EU, and critics say the interim agreement does not address
Iran's nuclear and missile programs; some US officials say Iranian denials may be aimed at domestic audiences.