A source close to the negotiating team told Tasnim that, unlike their previous texts, the Americans have agreed in the new text to lift Iran's oil sanctions during the negotiation period.

• Waiving sanctions means temporarily lifting sanctions.
• Iran insists that lifting all sanctions on Iran should be part of the US's commitments.
• However, the US has proposed suspending OFAC until a final understanding is reached.

The reported shift in the U.S. stance regarding Iran's oil sanctions could signal a diplomatic thaw that may boost Iranian oil exports, affecting global supply dynamics. This move might influence oil prices and, in turn, impact the currencies of countries heavily reliant on oil, such as the JPY and GBP. Traders should watch for market reactions across commodities and foreign exchange as negotiations progress.