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Iran has been trying to get Europe and the US to back a nuclear deal, which would provide a financial boon to the country’s weakened economy with oil promises despite experts warning it would take years for the benefits to materialize.
“Recent Iranian statements reveal an attempt to tempt Europe with Iranian energy exports in the face of Putin’s energy policy,” Behnam Ben Taleblu, a senior fellow and Iranian expert at the Foundation for Defense of Democracies, told Fox News Digital. .
“The Islamic Republic is trying to portray itself as a potential savior of Europe’s energy problems, regardless of the facts of the case.”
Iranian oil minister Javad Owji said the country is ready to supply oil and gas to the global market to help “improve energy security in the world”, Iranian news agency Tasnim reported.
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“From a technical and practical point of view, the OPEC + Joint Technical Committee in its baseline scenario has predicted that the excess supply over world oil demand in 2022 will be 400,000 barrels per day, or about 600,000 barrels per day. less than the previous month’s forecast, “Owji said at a meeting on Monday.
“The current situation requires a lot of careful consideration,” he said, adding that “the global energy market must increase the supply of oil and natural gas from Iran.”
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Iranian news agency Mehr has proclaimed that “winter is coming” for European nations as Russia continues to exploit its energy supplies in retaliation against economic sanctions imposed following the invasion of Ukraine.
Last week, the Russian-controlled gas company Gazprom announced it would close its Nord Stream 1 pipeline due to “oil spills,” which will drive gas prices in Europe to skyrocket. It will also give Iran an opening to try to change the momentum in discussions regarding a nuclear deal. Owji noted that some gas companies are asking $ 70 per million BTUs, or about $ 400 per barrel.
“Although Europeans are trying to make up for the lack of energy and reduce the severity of the crisis with some decisions in the field of energy policies, the stable and reliable supply of energy sources, especially oil and gas, especially in autumn and winter seasons are approaching, it is a necessity for European consumers, “said the Iranian oil minister.
Talks between the US and Iran to revive the Joint Comprehensive Plan of Action (JCPOA), also known as the Iranian nuclear deal, stalled this week when US Secretary of State Antony Blinken said Iran’s latest responses resulted in the “backward” talks and the US refused to “accept a deal that doesn’t meet our bottom line requirements.”
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The deal would provide Iran with immediate funds that could help alleviate its sanctions-backed economic woes in recent years as part of former President Donald Trump’s “maximum pressure” campaign following the withdrawal of the original Iran nuclear deal.
Any attempt to use Iranian oil to alleviate current energy difficulties would be a bit of an illusion as Tehran has amassed supplies but has not invested in infrastructure at all.
“Although Iran has pumped and stored oil while under sanctions, it has no infrastructure to transport its natural gas to Europe, which currently does not go beyond the Caucasus and Anatolia,” Taleblu explained. “More worrying is the Biden administration’s gradual interest in the JCPOA as a potential oil deal rather than a counterproliferation deal.
“Framing that impending submission as a way to keep oil prices low is a slap in the face for Americans and US foreign policy, not a solution to high oil prices.”
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The World Bank reported that Iran has continued to recover gradually this year, thanks to higher oil and tax revenues, with growth expected to “remain modest over the medium term”.