Iran to get ‘well more than $20 billion’ in sanctions relief
BY: Adam Kredo | Free Beacon — February 14, 2014 11:29 am
Iranian oil exports soared in January, hitting new highs just months after the United States consented to billions of dollars in economic sanctions relief under the interim nuclear deal.
Exports of Iranian crude oil jumped to 1.32 million barrels, up from December’s high of 1.06 million barrels, according to data from the International Energy Agency.
The spike in exports—mainly to Japan, China, and India—has helped Iran’s once-ailing economy stabilize and decrease inflation.
Iranian oil exports have steadily risen since negotiations with the West restored confidence in Tehran’s economy. The increase runs counter to a promise by the Obama administration that “Iran’s oil exports will remain steady at their current level of around 1 million barrels per day.”
Back up to 2012
By Daniel J. Graeber, Guest blogger / October 2, 2012 | Christian Science Monitor
OPEC figures show a general decline in Iran’s crude oil production after Iran was hit with economic sanctions this summer, according to OilPrice.com. But has the effect of the sanctions on Iran’s oil production reached a limit?
The Iranian oil sector may be lagging because of declining revenue needed to keep the domestic sector afloat. The country was hit with economic sanctions during the summer amid growing concerns over its nuclear ambitions and OPEC figures show a general decline in crude oil production from the Islamic republic. U.S. energy statistics, meanwhile, predict Iran’s crude oil production should fall more than 20 percent compared to last year’s figures. From the Iranian perspective, however, all is well for No. 3 among OPEC nations.
Iranian Oil Minister Rostam Qasemi said neither crude oil sales nor production is impacted by sanctions imposed by Western governments. The U.S. and European governments during the summer targeted the country’s energy sector as punishment for transparency issues with nuclear research.
More at CSMonitor.com
By the way, in 2012 when Iran’s production declined OPEC’s production rose.
Obama in his 2014 SOTU address:
“The sanctions that we put in place helped make this opportunity possible. But let me be clear: if this Congress sends me a new sanctions bill now that threatens to derail these talks, I will veto it.”
But how about the “talks” derailing sanctions?
“For the sake of our national security, we must give diplomacy a chance to succeed.”
Its a bit contradictory, like his policies for the US: his political success is failure for the US economy. The question is what diplomatic success looks like to Obama?
So , in a swoop of months, Obama has undone the effects of the sanctions. It’s the ‘carrots with no stick’ Iran policy.
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