Illegal Oil Trade Nets $44.7 BILLION for Iran While White House Snoozes
(FeaturedNews.com) – United Against a Nuclear Iran (UANI) has kept a close eye on the country’s oil exports. The watchdog group reported that the Middle Eastern nation experienced a boom in business after Joe Biden entered the White House. The latest figures ending in March reflected profits of $39 billion. During the same period in 2021, they were at just $22 billion. The country is supposed to be under heavy US sanctions, so what is going on?
Most alarming among UANI’s findings is that Iran is selling the majority of its oil to China. In July, the Asian country received over 760,000 barrels daily, up from almost 700,000 in June. It’s by far the biggest recipient of the sanctioned product.
JUST IN: Iran Has Made $44.7 Billion in Illegal Oil Sales Since Biden Took Office — Tehran slated to sell China $27 billion in oil this year alone https://t.co/ucW5gRyPnV
— Adam Kredo (@Kredo0) August 2, 2022
The main issue leading to the runaway oil industry is the Biden administration’s relaxed approach to handling penalties. Out of fears that imposing any punishment too heavily might ruin the chance of striking a new nuclear deal, the White House has backed off on harsh restrictions against Iran.
Former Trump State Department special adviser Gabriel Noronha told the Free Beacon the foreign country’s economy impressively rebounded under the Biden White House. He blames that on bad US leadership.
NEW: Iran has sold over $44 billion in oil since Biden took office. Most has been to China, who has flouted our sanctions.
— Gabriel Noronha (@GLNoronha) August 2, 2022
Under pressure, the Biden administration did enact some new sanctions related to the illegal transport of Iranian oil on August 1. Targets included companies owning tankers moving the petroleum for sale to Asia. But according to Noronha, the action is too little, too late. Biden has already shown his weakness, allowing China and Iran to exploit it.
Should the US crack down harder on sanctions? Would harsher consequences help stop the illegal sales and bring the Middle Eastern nation around to cooperating with the president?
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