Here's How Much Iran Could Make From US Oil Sanctions Waiver
Summary
The United States has temporarily lifted sanctions on Iranian oil exports to support progress in ending a nearly four-month war. This move allows Iran to sell more oil openly, potentially increasing its daily earnings by millions, by reducing costs from previous sanctions evasion methods.Key Facts
- The U.S. Treasury Department issued a license allowing Iran to export oil and related products until August 21, 2026.
- This policy change reverses previous sanctions imposed during President Donald Trump’s administration.
- Iran’s oil sales were previously limited to a few buyers, mainly China, at discounted prices because of sanctions.
- Experts estimate Iran could make about $37.4 million to $51 million per day during the 60-day waiver period.
- Iran was already selling oil but at lower profits due to discounts and costs of secret shipping and financial maneuvers to avoid sanctions.
- The new license allows Iran to sell oil closer to market prices and reduces costs related to shipping and financial operations used to skirt sanctions.
- These changes could increase Iran’s revenue by roughly $11 per barrel of oil sold.
- Iran is estimated to currently have access to around 180 million barrels of oil for export.
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