Iran is preparing to raise oil exports in a sign that the US will ease some sanctions under Joe Biden presidency.
Tehran will take measures to improve infrastructure and induce equipment’s for the production and export of oil in line with current capacity within the next three months," according to President Hassan Rouhani’s official website.
The 2015 Iranian nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), enabled Iran to export more than 2 million barrels of oil before the US unilateral sanctions against Tehran in 2018," he said.
The Iranian Ministry of Petroleum is tasked to take all necessary measures to prepare oil industry's facilities for the production and sales levels, proportionate to the available capacity, within the next three months.
In reaction to the US' withdrawal and in response to Europe's sluggishness in facilitating Iran's banking transactions and oil exports, Tehran has been gradually moving away from its nuclear commitments since May 2019.
