After Venezuela, Iran?
To calm the surge in oil prices and help Europe do without Russian black gold, the United States is tempted to ease the long-standing sanctions against these two producing countries.
According to Vitol Group, one of the biggest oil trading companies in the world, Joe Biden could decide to turn a blind eye to illicit exports from Tehran, even if the - difficult - renegotiation of the 2015 agreement on the Iranian nuclear was not successful.
To discover
Taxes 2022: all about your tax return
Read also
The Iranian nuclear crisis is proliferating
The American president will indeed face the fall in the midterm elections in the United States.
And he may have more to gain, electorally, from lowering prices at the pump than from seizing Iranian oil tankers who do not respect the embargo, as was the case last May.
Iran could bring between 500,000 and a million additional barrels a day to world markets if the nuclear deal goes through and sanctions are lifted.
Enough to weigh on prices, according to energy analysts.
On May 17, the White House had already announced the start of sanctions relief imposed on Venezuela after the controversial 2018 elections (which led to the re-election of President Nicolas Maduro).
A limited waiver was notably granted to the American oil group Chevron, to negotiate potential future activities in the country.
The Italian Eni and the Spaniard Repsol have received authorization to resume the production of gas and oil and their exports, on the express condition that they are sent to Europe, excluding any other destination.
The United States thus hopes to divert part of the Venezuelan hydrocarbons which end up today in China.
Beijing, which has not adopted the sanctions against Venezuela, receives 70% of the volumes exported by the country.
“light but significant measures”
taken by the United States.
