As nuclear deal talks between the United States and Iran appear set to resume, the Biden administration is nixing sanctions against Iranian oil companies.
The announcement from the Biden administration follows negotiations to revive the Joint Comprehensive Plan of Action — the Iranian nuclear deal proposed in 2015 by President Obama. Indeed, the Biden administration hinted in April that it would be willing to roll back sanctions “inconsistent with the JCPOA.”
Secretary of State Antony Blinken wrote in a June 10 press release:
The U.S. Department of the Treasury and the Department of State are lifting sanctions on three former Government of Iran officials, and two companies previously involved in the purchase, acquisition, sale, transport, or marketing of Iranian petrochemical products, as a result of a verified change in status or behavior on the part of the sanctioned parties. These actions demonstrate our commitment to lifting sanctions in the event of a change in status or behavior by sanctioned persons.
The Treasury Department