After the recent attack on Israel by Iran, analysts are saying that tightening sanctions on Iranian oil may prove to be difficult for the US due to concerns about rising oil prices and strained relations with China. US lawmakers are expected to propose bills to tighten sanctions on Iran in response to the attack.
Iran is currently the third-largest oil producer in OPEC, and the US has a history of imposing sanctions on the country, especially during former President Donald Trump’s administration. The Biden administration has attempted to restore the JCPOA nuclear agreement with Iran but has faced challenges in doing so.
Tensions between the US and Iran continue to rise, with Washington renewing sanctions that allow Iraq to buy oil from Iran, providing Tehran with additional revenue. The Biden administration is under pressure to take action against Iran without escalating tensions in the region or affecting Chinese interests.
Experts believe that enforcing strict sanctions on Iranian oil exports may be challenging for the US, given the potential impact on oil prices, which are crucial in an election year. Additionally, imposing sanctions could strain US-China relations, as China is the largest buyer of Iranian oil.
While the Biden administration has affirmed its commitment to increasing pressure on Iran, concerns remain about the feasibility and consequences of tightening sanctions. Washington faces limitations in imposing sanctions, and finding effective ways to influence Iran’s behavior without causing significant economic repercussions is a complex task.
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