The United States is unlikely to strictly enforce its new package of sanctions on Iran ahead of this year's election.
Despite a new package of sanctions against Iran targeting financial institutions, ports, vessels, and refineries that knowingly process Iran ian oil shipments, the U.S. Administration is unlikely to “strongly enforce” the restrictions in an election year, Amrita Sen, founder and research director of Energy Aspects, told Bloomberg Television in an interview.
doesn’t have any means to enforce sanctions on China’s independent refiners for buying Iranian crude oil, Energy Aspects’ Sen told Bloomberg. The teapots will continue to import Iran’s crude, while any new restrictions could take up to 500,000 barrels per day bpd of Iranian oil off the market, she added. In recent months, Iran is estimated to have raised its crude oil exports to around 1.5 million bpd.
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