The Implications of Sanctions for the Iranian Oil Market

Senior officials in the Trump administration have indicated that the sanctions recently imposed on the Islamic Republic were intended to significantly change its behavior. This declaration is inconsistent with its granting of an exemption to the eight countries – particularly China and India – that make up the bulk of Iranian oil exports. The administration’s decision reflects, among other things, the desire to avoid a shake-up in global oil prices and a pragmatic approach that allows room for maneuver for countries that are not ready to immediately halt their purchases of Iranian oil. However, the decision is being interpreted by Tehran as a sign of weakness and an achievement for Iranian foreign policy.
— Read on besacenter.org/perspectives-papers/the-implications-of-sanctions-for-the-iranian-oil-market/

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