Billions In Oil Deals Shield Iran From U.S. Sanctions

25 Aug 2017   Iran

Since many of the Western sanctions on Iran were lifted early last year, Tehran has been trying to restore its crude oil exports to a pre-sanction level and attract foreign investments in its energy sector. Companies are still cautious and not rushing into deals with Iran, but many European, Russian, and Asian firms have signed preliminary agreements or letters of intent with Iran that would turn into billions of dollars of investments. The pledged and potential investments could help Iran cushion the impact of any move by U.S. President Donald Trump to end the nuclear deal with Iran that the U.S. had agreed together with China, France, Germany, Russia, and the UK. While the U.S. has slapped new sanctions on Iranian companies in response to a ballistic missile program and President Trump has signed into law an act imposing new sanctions on Iran, some of the biggest European and […]

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