U.S. Spells Out Rules for Iran Oil...

U.S. Spells Out Rules for Iran Oil Imports: Iranian oil will be allowed into the United States in some cases, but only if the proceeds from those sales go to settle claims that are outstanding from the 1979 hostage crisis, the Treasury Department announced. The U.S. government had prohibited imports of Iranian oil since October, 1987, but announced last November that it would begin issuing import licenses for it on a case-by-case basis. The announcement by the Treasury’s Office of Foreign Assets Control spelled out the conditions under which they will be granted.