Where did the new US oil sanctions against Iran end up?

According to Energy Press, according to Bloomberg, the bill that forced Joe Biden to increase sanctions against Iran’s crude oil will become law this week, but the US president is not expected to use his new powers anytime soon.

These sanctions were presented by the US House of Representatives at the end of last week in retaliation for Iran’s missile response to the Zionist regime. On paper, these representatives have pledged to increase the scope of Iran’s crude oil export sanctions by extending it to foreign ports, tankers and refineries involved in the country’s oil trade.

But oil market analysts believe that Biden is reluctant to take any action that will increase the price of crude oil or gasoline. Some experts say that Biden will probably consider exemptions for these sanctions and will not implement them definitively.

This situation is somewhat similar to the situation that the Biden administration had with Russia and its attack on Ukraine. The White House has imposed sanctions against Russia and tried to limit its income, but on the other hand, it also allowed the country’s oil exports to continue. So that global supply is not disturbed and inflation does not increase more. These considerations are taken into account in the year when the US presidential elections are ahead. America has even allowed Venezuela to continue exporting oil despite the extension of sanctions against this country. Many believe that oil traders do not care about these new sanctions because they are sure that the Biden government will introduce exemptions for the continued export of Iranian oil, as it did with Russian oil.