Baiden's soft oil embrace. Why US and Iran's sanctions are not as stiff as you would like

Such steps of the President were disappointed by some of the US Finance Ministry. What caused this excitement of Biden? According to the US Energy Administration, earlier the average price of gasoline galon was $ 3. 44, about the same level as a year ago, but much higher than four years ago.

What sanctions are it? Proponents of this policy in the administration have stated that these steps are well balanced to keep prices at low levels, but create obstacles to the export of oil export of Russia and Iran, that is, they earn less for every barrel sold. The US National Economic Council and other Baiden administration officials are concerned that wider measures will lead to logistical problems in the oil market and increase inflation.

According to analysts, the growth of oil production in countries that have been sanctioned is one of the reasons for falling oil prices from its maxima in early 2024. In addition to limited sanctions, the US government is trying to provide additional oil flow from Iraq. Last month, the State Department's delegation visited Northern Kurdistan to try to open a pipeline that connects the oil rich in Turkey.

The political dispute between Turkey, Iraq and the semi -autonomous region of Kurdistan has blocked the pipe since the beginning of 2023. The pipeline itself belongs to 60% of Russia -controlled "Rosneft Oil", and the company receives money when oil passes through it. At the end of last year, Rosneft sent a group of traders to Kurdistan with a similar task. I can only remind a few important points.

I wrote many times that most of our partners are not interested in having Russian resources disappear from the market. Because it is very painful for the world economy. It was because of the prices for oil and petroleum products that Washington asked Ukraine to stop attacking some Russian refineries. Well, we refused to comply with this request. Biden's energy policy often contradicts environmental. The US oil and gas industry is now at the peak.

Production - more than 13 million barrels per day (record for all times). Exports have grown sharply, as well as profits. But players of the oil market see in the environmental agenda of the administration a threat to themselves. Trump uses the situation in his political agitation. Biden is difficult to lava for many voters for many voters, the need to keep acceptable fuel prices and voters' interests in different regions.