Last updated on February 7, 2021 10:36 am
Feb 6, 2021, 10:02 PM
TEHRAN – Biden administration is reportedly weighing ways to ease financial pressure on Iran without lifting economic sanctions including on oil sales.
The Biden administration is weighing ways to ease Iran’s financial pressure without lifting economic sanctions including on oil sales as a step toward reviving the 2015 nuclear deal abandoned by former President Donald Trump, Bloomberg reported.
Some options US officials are debating include providing backing for International Monetary Fund lending to Tehran for coronavirus relief and easing up on sanctions that have stymied international coronavirus aid from getting into Iran, claimed four people familiar with the administration’s thinking.
President Joe Biden could also sign an executive order reversing Trump’s decision to quit the multinational deal, according to the people. But issuing sanctions waivers to allow Iran to sell oil on the international market isn’t currently under serious consideration, according to the people.
It should be noted that former US President Donald Trump Unilaterally withdrew the US from the Nuclear Deal and re-imposed sweeping economic sanctions against the Islamic Republic of Iran in 2018.
The 2015 deal, more formally known as the Joint Comprehensive Plan of Action (JCPOA), was signed by the five permanent members of the UN Security Council — the US, the UK, China, Russia, and France — plus Germany and the EU.
Tehran, in response, reduced commitments to the deal to create a balance, calling on other parties to safeguard its economic interests under the deal.