U.S. Sanctions on Venezuela beneficial for Iran?
The United States sanctions on Venezuelan crude complicate its effort to bring Iran’s oil exports to zero. According to some experts, to avoid a price spike, Washington will likely be forced to allow some buyers to continue purchasing Iranian oil, The Wall Street Journal writes.
The U.S. administration banned the purchase of crude from the Venezuelan government of Nicolás Maduro in late January, just two months after it implemented an embargo on Iran’s oil exports. At the time, the White House issued waivers to eight nations, allowing them to continue purchases of Iranian oil until April.
A U.S State Department official noted that even with the Venezuelan oil sanctions firmly in place Washington's goal remains to "get to zero oil purchases from Iran as quickly as possible."