The Biden administration is working to revive a nuclear weapons deal with Iran and it may be doing so with ill intent.
According to some analysts, U.S. – Iran negotiations might be part of the reason for a recent downturn in crude prices.
“With the negotiations ongoing, the oil price is likely to lose steam in the next week, despite the bump higher we’ve seen today,” said CMC Markets’ analyst Tina Teng.
Tight supply has driven crude prices towards $100 a barrel and Democrats know that high gas prices near the 2022 mid-term elections will seal their fates. So, enter Secretary Blinken and a host of international dignitaries waiving sanctions just to continue negotiations with Iran.
“President Joe Biden’s administration on Friday restored sanctions waivers to Iran to allow international nuclear cooperation projects, as indirect American-Iranian talks on reviving the 2015 international nuclear deal with Tehran enter the final stretch.”
Just as Biden went to Russian President Vladimir Putin to ask him to produce more oil, it appears his administration is looking to help Iran turn its crude into cash to relieve supply issues in the United States and around the world while continuing to make it difficult for U.S. producers to increase production.
White House economic advisor Jared Bernstein told CNN Newsroom Tuesday that their plan includes international negotiation with zero intention of boosting domestic production.
“Number one, we are engaging internationally, both with oil-producing and oil-consuming countries,” he said in the interview. “We’re engaged in diplomatic measures to make that happen.”
It may not have the same terrible optics as Obama’s ‘pallets of cash-for-hostages’ deal, but the negotiations aren’t over yet.
Senate Republicans have informed the Biden administration that any international agreement with Tehran must include Senatorial oversight.
“[W]e reiterate our view that any agreement with Iran regarding its nuclear program is of such gravity for US national security that by definition it is a treaty requiring Senate advice and consent.”
The lawmakers, including Foreign Relations Committee ranking chair Jim Risch, Senator Marco Rubio and Senator Jim Inhofe, also urged Biden to submit the nuclear deal for ratification as a treaty. The agreement was not submitted as a treaty by the former Barack Obama administration.
So while Biden hopes to end high gas prices, and high prices on everything else, by begging for help from foreign nations that hate the U.S., perhaps, just perhaps, the Senate will do their jobs and prevent Iran from receiving another monetary windfall from a Democrat president.
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