|
Trending Topics
|
Lax U.S. Sanctions Enforcement Drives Iran's Increasing Oil Exports
(United Against Nuclear Iran) Claire Jungman and Jerry Canto - Ship-tracking data and research shows how the Biden administration eased the pressure on Iran due to lax enforcement of sanctions on Iranian oil exports. On July 26, 2022, Iran's economy minister reported a 580% increase in income on sales from oil and gas condensate between March 2022 and July 2022, compared with that period last year. Comparing Iran's revenue calculations in 2020 and 2021, it is clear that the Biden administration has allowed Iran to substantially increase revenue via oil exports to China. There was a 116% increase in barrels of Iranian oil exported to China in 2021. In 2020, under President Trump, the Iranian regime sold $6.6 billion of oil to China. In 2021, during President Biden's first year, Iran sold $23.1 billion of oil to China. While some of this is due to the rising price of oil, at 2021 prices, Iran made an estimated $8.8 billion on the increase in exports. Oil export revenue spikes translate into the growth of money allocated to Iranian terror proxies, which in turn has led to an increase in attacks by these proxies. Iran's proxies and military - let alone its nuclear and ballistic missile program - directly benefit from sanctions relief.