The United States on Monday denied reports circulated by Iranian state media claiming that President Donald Trump's administration had proposed a temporary waiver on sanctions imposed on Iranian oil exports until a final nuclear agreement is reached.
A US official, speaking to CNBC correspondent Megan Cassella, said the US has not granted any such waiver, and the reports making the rounds are "false".
A U.S. official tells me the Iranian state media report that the U.S. has agreed to lift oil sanctions while talks are ongoing is false. https://t.co/gOcyBKDAxC
— Megan Cassella (@mmcassella) May 18, 2026
The reports, first carried by Tehran's Tasnim news agency, suggested Washington was considering easing restrictions on Iranian crude exports as part of ongoing negotiations with Tehran.
Following the claims, European markets recovered losses, with the STOXX 600 index briefly rising 0.2%, while Nasdaq 100 futures pared sharp declines.
The United States has maintained a stringent sanctions regime on Iran's oil sector under its “maximum pressure” policy.
The sanctions not only prohibit American companies from dealing in Iranian oil but also threaten penalties against foreign firms, banks and governments purchasing Iranian crude.
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The speculation over a possible waiver came amid heightened diplomatic activity between Washington and Beijing.
During his recent high-stakes meeting with Chinese President Xi Jinping, Trump reportedly failed to secure China's commitment to halt imports of Iranian oil.
Trump later claimed that while Beijing agreed not to provide military support to Iran, it would continue purchasing Iranian crude.
Oil prices, which had surged earlier after Trump warned that “the clock is ticking” on Iran and urged Tehran to “get moving” on stalled talks, later eased slightly.
Brent crude traded marginally lower near $109 per barrel, while West Texas Intermediate slipped 0.9% to around $100.27.
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According to reports, Trump has also been consulting allies, including Israeli Prime Minister Benjamin Netanyahu, on possible next steps if negotiations fail, including potential military options.
Sources cited in the reports said Iran may be open to a shorter suspension period of three to five years as part of a possible compromise.
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