A type of informal arrangement has been created between Iran and the United States, according to Bloomberg.
Bloomberg news website has reported that several months of secret diplomacy between the governments of Iran and the United States have led to progress in the exchange of imprisoned individuals for the release of blocked assets, and possibly the Iranian side’s decision to reduce the pace of enrichment.
At the same time, the global oil market conditions have also created a type of informal bilateral oil arrangement between the two parties.
The report states that US officials have privately admitted to gradually reducing the oil sanctions on Iran, resulting in an increase in Iran’s oil sales to the highest level since the return of sanctions five years ago, with the highest volume of oil sales to China.
The motivation of US officials has been to cause a decrease in the price of oil by flooding the global market. According to this report, the price of oil reached below $85 this week, bringing relief to consumers and central banks of Western countries. Meanwhile, Biden hopes that the low oil prices will help his re-election campaign in the coming year.
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