Iran's policies for exporting oil and circumventing sanctions have found a more clever shape and form and new purposes for themselves.

By bypassing the western financial system and shipping services, China has created a way to import Iranian oil. Independent Chinese refineries buy 90% of Iran's total oil exports. This strategy allows China to avoid having its major international banks placed on the US financial sanctions list.

The Biden administration and Venezuelan President Nicolas Maduro's government are expected to announce a deal on Tuesday that would ease U.S. sanctions on Caracas' oil industry while opening up Venezuela's 2024 presidential election, the Washington Post reported on Monday.