The Limited Times

Now you can see non-English news...

Simultaneously with the negotiations in Vienna: Iran will double the volume of oil production | Israel Today

2021-12-06T20:41:00.836Z


Tehran announces plans to move to 5 million barrels of oil per day - up from 2.5 million barrels ahead of Trump's sanctions


Against the backdrop of the nuclear talks in Vienna, the Iranians plan to significantly increase the volume of oil production to the level of pre-sanctions imposed by former President Trump.

According to a report in Bloomberg, the head of the Iranian Petroleum Council announced that the country intends to increase production to 5 million barrels per day.

This is ten times the amount of less than half a million barrels that Iran reached more than two years ago in the midst of sanctions - compared to the 2.5 million barrels of oil that Iran exported daily before the Trump administration imposed sanctions.

Meaning: Significant easing of the Iranian regime and increasing the room for economic-strategic maneuvering of the Ayatollahs in a way that significantly increases the room for maneuver, even before another agreement is signed.

The new president of Iran, Ibrahim Raisi

Meanwhile, the Iranians are in advanced negotiations with China to "develop oil fields" in the country, as they say, after it was reported that last summer the communist regime in Beijing alone purchased about half a million barrels a day, thus pinching another pin in US sanctions on Tehran.

China and Iran recently signed a huge $ 400 billion 25-year deal aimed at a massive Chinese economic investment in Tehran.

While the Trump administration has put tremendous pressure on China not to help Iran, thus circumventing White House sanctions, the Biden administration is taking a compromising approach that signals to the Iranians that they could squeeze further concessions from the Americans.

In 2017, the last before US sanctions, Iran's oil revenues stood at $ 50 billion - about 70% of its total revenues.

At the end of Trump's days, its foreign exchange reserves plummeted to less than $ 5 billion - while at the height of its economy, following the lifting of Obama's sanctions, its foreign exchange reserves jumped to $ 100 billion.

During 2019, then-President Hassan Rouhani acknowledged that the Islamic Republic is facing the most severe economic crisis since its establishment in 1979.

The exchange rate of the Iranian rial currency fell to a historic low at the time, when one US dollar was worth 130,000 rials.

Now the situation has improved dramatically, and the dollar is worth about 42,000 rials.

Were we wrong?

Fixed!

If you found an error in the article, we'll be happy for you to share it with us

Source: israelhayom

All news articles on 2021-12-06

You may like

News/Politics 2024-02-02T23:30:04.848Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.