Updated: Jul 15
by Majid Rafizadeh for the Gatestone Institute – 25.06.22
The Biden administration's weak leadership -- to hold accountable those who are violating Iran sanctions -- is likely a critical reason the Iranian regime is flamboyantly ignoring the US and forging ahead -- soon, most likely, to become a nuclear state.
Presumably to take even further advantage of the Biden administration's weak leadership, the Iranian regime is also signing long-term agreements with its oil clients to permanently insulate its economy from the US sanctions.
The ruling mullahs are now producing more oil and selling it at levels close to the pre-sanctions era to countries such as China, which desperately needs more oil, while the Biden administration has cut off US oil exploration.
One of its terms [of the deal recently signed between China and Iran] is that China will invest nearly $400 billion in Iran's oil, gas and petrochemicals industries. In return, China will have priority to bid on any new project in Iran that is linked to these sectors. China will also receive a 12% discount and can delay payments by up to two years. China will also be able to pay in any currency it chooses. It is also estimated that, in total, China will receive discounts of nearly 32%.
The Biden administration must impose drastic economic sanctions on Iran's energy and financial sectors: that would threaten the ruling clerics' hold on power, forcing the leadership to recalculate its priorities. The US must hold those who violate the sanctions strictly accountable, and make clear to the ruling mullahs that if they continue advancing their nuclear program, military options are on the table.
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Here is an addendum to this article in pdf by the same author:
Presumably to take even further advantage of the Biden administration's weak leadership, the Iranian regime is also signing long-term agreements with its oil clients to permanently insulate its economy from the US sanctions. Pictured: China's Foreign Minister Wang Yi (left) and Iran's then Foreign Minister Mohammad Javad Zarif at the signing of the China-Iran comprehensive strategic 25-year partnership agreement on economic and security cooperation, in Tehran, Iran on March 27, 2021. (Photo by AFP via Getty Images)