The Trump administration on Sunday said Iran would once again be able to sell oil on international markets as part of an emerging diplomatic framework between Washington and Tehran, a move that could have significant implications for global energy prices and major oil-importing countries such as India.
Speaking on ABC’s “This Week”, US Energy Secretary Chris Wright said Iran’s return to global energy markets would be one of the immediate outcomes of the ongoing negotiations, even as discussions continue over Tehran’s nuclear programme.
“Oh, Iranians have been selling oil for most of the last 47 years,” Wright said. He noted that Iranian exports had fallen sharply during President Donald Trump’s first term but increased significantly during the Biden administration. “That’s all they’re getting — the ability to sell their oil again.”
According to Wright, Iran is expected to return to export levels of more than 1.5 million barrels per day, roughly matching volumes seen before the latest conflict. He said the United States had demonstrated during the confrontation that it could halt Iranian oil exports entirely, giving Washington leverage in the negotiations.
“We proved to them for two months that we could stop them from selling a single drop of oil,” Wright said.
The administration also sought to reassure consumers that energy markets were stabilising following weeks of uncertainty caused by tensions in the Gulf and disruptions around the Strait of Hormuz. Wright said oil and natural gas flows through the strategic waterway had already returned to normal levels.
The prospect of renewed Iranian oil exports has become one of the most debated aspects of the emerging agreement.
Former National Security Adviser Susan Rice argued that Tehran was receiving substantial economic benefits before agreeing to a comprehensive settlement.
“As the secretary just acknowledged, Iran, as of the signing of the agreement, is now able to sell all of its oil and oil products on the market without impediment,” Rice said. She also criticised the administration for allowing Iran access to the international banking system and frozen assets.
Rice described the arrangement as a “jaw-dropping, horrific surrender” and argued that major concessions should have been tied to a final agreement rather than granted at the outset.
The emerging agreement has reignited debate among US policymakers over whether sanctions relief should be used as a tool to encourage Iranian cooperation or reserved until a final deal addressing Tehran’s nuclear programme is reached.
-IANS
