Iran Likely to Gain More Than $70 Billion From the Removal of Oil Sanctions

Saeed Ghasseminejad

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Mohsen Khojastemehr, the CEO of the National Iranian Oil Company, said earlier this month that Iran’s oil production has returned to its pre-sanctions levels. While this claim may constitute an exaggeration, Iran’s stated progress reflects the Biden administration’s failure to enforce existing sanctions on the country over the past year — and the increasing likelihood that Iran will earn tens of billions of dollars more from oil exports under a new nuclear deal.