DH Latest NewsDH NEWSUSLatest NewsNEWSmembers and peoplePoliticsbusiness

Biden opines – globally countries must lower petroleum purchase from Iran

In a memo to the US State Department on Friday, US President Joe Biden stated that there were sufficient supplies of petroleum for other countries to reduce their purchases from Iran.

Every six months, the White House is required to confirm that there is enough oil supply globally to maintain sanctions against Iran imposed during Barack Obama’s presidency in 2012.

Biden’s remarks come ahead of a virtual meeting with China’s President Xi Jinping on Monday, which is expected to be the leaders’ most in-depth meeting since Biden took office.

China is the largest buyer of Iranian oil, averaging over 500,000 barrels per day over the last three months.

Despite sanctions that, if enforced, would allow Washington to cut off those who violate them from the US economy, Chinese purchases of Iranian crude have continued this year.

The Biden administration is not currently enforcing those sanctions in advance of upcoming talks with Iran to resurrect a 2015 nuclear deal that would allow Iran to sell its oil openly again.


Post Your Comments

Back to top button