Iran Regime’s Failure to Circumvent U.S. Sanctions by Selling Oil to Private Buyers
Iran Regime’s Failure to Circumvent U.S. Sanctions by Selling Oil to Private Buyers By Mahmoud Hakamian Earlier this year, U.S. President Donald Trump announced that the United States would be exiting the 2015 nuclear deal. He explained that the nuclear threat still existed despite the nuclear agreement and said he believed it would even be guaranteed a nuclear arms race in the region. The U.S. State Department said that it expects all foreign countries to reduce their imports of Iranian oil to zero by November. President Trump’s administration has been cracking down on the Iranian regime, applying maximum economic pressure to cut it off from the funds that it uses to spread terrorism across the region and beyond. The Iranian regime has tried to counter the U.S. sanctions on its oil trade. It offered one million barrels of oil at a base price of just $79.16 per barrel to private buyers on Iran’s energy index IRENEX. Iran eventually dropped the offer to $74.85 per ...