Image for representation purposes only The United States will allow Iran to immediately resume oil and fuel exports under a new memorandum of understanding expected to be signed in Switzerland on Friday, according to U.S. officials familiar with the agreement. The move would ease pressure on Iran’s energy sector and could increase oil tanker traffic through the Strait of Hormuz, one of the world’s most important shipping routes for crude oil and liquefied natural gas. Under the agreement, Washington will issue sanctions waivers allowing Iran to sell oil and fuel while also permitting the banking, transportation and insurance services needed to support those sales. The waivers are expected to take effect as soon as the deal is signed. U.S. officials said the arrangement is designed as a performance-based agreement, meaning Iran will only continue receiving the benefits if it meets the commitments outlined in the memorandum. “This is a performance-based agreement,” a senior U.S. official said. “Iran can only access any benefits of the MOU if they abide by all of the points they agreed to — including no nuclear weapon, neutralizing its enriched material, and not interfering with the free flow of navigation in the Strait of Hormuz.” The agreement is a major shift in U.S. policy toward Iranian oil exports after years of sanctions aimed at limiting Tehran’s energy revenues. The Wall Street Journal reported that an Iranian supertanker carrying crude oil had already departed from the port of Chabahar on Tuesday and crossed the U.S. blockade. The vessel’s tracking system remained active during the voyage, making it the first known case since Washington imposed restrictions on Iranian ports in April as part of efforts to pressure Tehran into an agreement. The sanctions waivers are expected to cover more than just oil sales. They will also apply to key services needed to move crude to international buyers, including shipping logistics, financial transac