AMERICA LIFTS OIL SANCTIONS ON IRAN FOR 60 DAYS

Written by Michael Thervil

AMERICA LIFTS OIL SANCTIONS ON IRAN FOR 60 DAYS | WRITTEN BY MICHAEL THERVIL

[America Iran oil sanctions] In what many are already calling an act of desperation; the Trump administration has just rolled back many of the sanctions that prevented countries from openly purchasing Iranian oil. The shift in the American position towards Iranian oil comes directly after the Iranian government weaponized the Strait of Hormuz against the Americans. The roll back of sanctions is the first time in nearly 40 years that countries could openly purchase Iranian oil on the open market. The loosening of sanctions on the purchase of Iranian oil has been designated for 60 days (two months) or until August 21. The lifting of sanctions on Iran oil also comes at a time when the Americans have burned through much of its strategic reserves and serves as a way to avoid running out of oil on its own soil.

The lifting of sanctions will potentially allow Iran to rake in a minimum of $10 billion dollars as countries other than the Americans like China, Indian, Japan, South Korea, and North Korea will be expected to hyper-aggressively rush in and take advantage of the rollback of American sanctions. It’s also expected that the Iranian government will be able to greatly benefit from the rollback of sanctions in that it will be able to funnel the funds gained to upgrade their economy, infrastructure, military, and foreign investments. With nearly 70 million barrels of oil sitting in the gulf ready for global shipment, the financial return for Iran will be relatively swift.

The lifting of oil sanctions is seen as a victory over the Americans through the eyes of geopolitical and war analysts within the international community despite the rhetoric and tough talking points of the Trump administration. With Iran selling oil and gas for the first time in four decades in American dollars, the Trump administration is hoping that the lifting of sanctions on Iran will serve as an incentive for them to reopen the Strait of Hormuz to the collective west. As this is fresh news, there has been no response from Israel recorded, but speculators believe that Israel will find some way to sour the situation.

While reports have been coming that the unfreezing of Iranian assets as well as $12 billion in restitution could be coming to Iran soon, there hasn't been any official word on exactly when or if that will happen from Washington. The Trump administration pushed the narrative that Iran would have to purchase agricultural products from the Americans, this was a claim that Iranian officials have denounced any such notion as they stated that Iran has “made no new commitments" and warned the Americans about engaging in acts of “exaggeration”. Iran’s Foreign Minister Spokesperson Esmail Baqaei was quoted on X yesterday stating:

“If power is not proven in war, it will not be proven through exaggeration after agreement either. Agreement stands on the shoulders of respect and fidelity to reality; and any self-congratulatory narrative constructed to compensate for past failures will, above all, destroy that very process of agreement. Then, defeat and failure extend beyond the battlefield and seep into the negotiating table as well.”

What's the next door or window for Iran, currently the answer to that question is unknown. However, it is suspected that even more American geopolitical and economic concessions will come in the weeks and months ahead.