Today the Biden Administration discussed easing sanctions against Iran which would include oil as a key element. After a five day talk in Vienna this week, leaders returned home feeling optimistic after discussions that President Biden wants to return to the 2015 nuclear agreement that the U.S. withdrew from during the Trump administration in 2018.
Read More
The United States has completed the sale of over one million barrels of gasoline that were seized from four Iranian vessels last August. The fuel seized came from Iran while being transported to Venezuela, two countries sanctioned by the United States. In addition, the Biden Administration is also looking to detain another tanker believed to […]
Read More
Venezuela has been suffering from a fuel shortage due to sanctions imposed by the U.S government. Iran and Venezuela are targets of United States sanctions and therefore Iran has stated its willingness to aid Venezuela as a fellow target of U.S sanctions. In August, the United States seized the cargo of four ships carrying fuel […]
Read More
The country of Venezuela has battled through tumultuous times under United States sanctions, a poor refining network has caused gasoline shortages as well as political and social upheaval. Another country that has also been under similar scrutiny and sanctions from the United States for comparison is Iran. Over the past month, Iran has sent dozens […]
Read More
On Monday, Venezuelan President Nicholas Maduro appointed his economy vice president, Tareck El Aissami as his new oil minister. El Aissami’s appointment comes at a time where the country has been dealing with hyperinflation, declining oil production, shortages on basic goods and sanctions from the United States. As if things could not get any more […]
Read More
The Trump administration is not expected to grant the Chevon Corporation another waiver to operate in Venezuela as the United States begins planning to increase pressure through sanctions on the regime run by Nicolas Maduro. The most recent waiver granted to Chevron is the fourth instance that has allowed Chevron to operate in the South […]
Read More
Last week, Iraq announced that they are holding a fifth bidding round for exploration and development of natural gas fields in the province of Diyala. Located in eastern Iraq, the fields of Diyala are expected to produce more than 750 million cubic feet of natural gas within the next three years. This latest round of […]
Read More
On May 2nd, the United States’ waiver period that granted eight nations to continue importing Iranian oil without penalty has ended. The countries who granted extensions that ended are China, India, Turkey, Greece, Italy, Japan, South Korea and Taiwan. As of today, only Italy, Taiwan and Greece have halted their purchases of Iranian produced oil. The […]
Read More
Global oil prices shot up quickly this week following reports that the Trump administration has decided to let Iranian oil sanctions exemptions expire at the end of the month. By ending sanctions exemptions, the administration has accelerated its goal of forcing Iran’s oil exports to zero. At a Monday press conference, Secretary of State Mike […]
Read More
The Treasury Department of the United States placed sanctions on Venezuela’s state-owned oil company Petroleos de Venezuela, S.A (PDVSA) on January 28 in an effort to stabilize democratic order to the region and combat corruption in Venezuela.
Read More
