Biden’s Allowing Iran’s Oil Sales to Keep Prices Low in 2024

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CNBC Contributor and Global Head of Commodity Strategy for RBC Capital Markets Helima Croft said during an interview on Monday, “Iranian exports have grown this year. They have grown significantly. So, is the Biden administration going to come under increasing pressure to tighten the Iran sanctions? Now, Amos Hochstein was out basically saying that we’re going to have tougher enforcement, but what are those Iran numbers going to actually look like? That’s a very important wild card, I think, for next year, in terms of market balances.”

Later, interviewer Becky Quick stated, “Look, with the Iranian sanctions, though, let’s just be clear, the United States has said, okay, we have these sanctions, but it’s basically been acknowledged that they’re going to continue to allow that oil to be sold elsewhere because they don’t want — the United States politicians don’t want oil prices going up either, because it really ticks off voters to be paying more at the pump, especially in an election year.”

Croft also said that we don’t really know how Biden feels and added that the administration doesn’t want to be seen as funding Hamas.

[The fact that the money they gain from these sales funds Iranian terrorism does not override Biden’s political ambitions and those of the cartel behind the curtain telling him what to do.]

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Anonymous
2 months ago

I wonder when bita55 has actually had purchased any amount of oil or gas on a regular basis. You will note of these things are happening when its getting close to elections. I wonder why!!!