US tightens sanctions on Iran oil
Economic sanctions against Iranian oil will remain at a critical level after approval by the United States House of Representatives this Friday
US legislators approved this Friday a bill to toughen economic sanctions on Iranian oil, with 342 votes in favor and 69 against.
The House of Representatives approved the measure that seeks to “punish international refineries and ports that work with Iran and therefore violate US sanctions.”
Although the measure must be approved by the United States Senate, for which a date has not been announced, it has the support of members of both parties.
Republican Congressman Mike Lawler and Democrat Jared Moskowitz said in a joint statement about tightening economic sanctions on Iran’s oil, they noted that “the vote “sends a loud and clear message to bad actors like China, Russia and others: no. Help Iran avoid sanctions by helping them finance terrorism, or face the consequences.”
Despite hostilities between the United States and Iran, the latter’s exports have continued, mainly to China. In fact, the Asian country concentrates 80 % of these economic transactions.
According to recent reports, Iran’s crude oil exports, at approximately 1.5 million barrels per day (bpd), reached their highest level in more than four years.
Oil industry analysts have concluded that China has achieved significant savings on imports from countries under sanctions, such as Iran, Venezuela and Russia.
M.Pino
Source: finanzasdigital
(Reference image source: Unsplash+, in collaboration with Getty Images)
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