The US Treasury Department has announced the lifting of sanctions on three companies and two aircraft linked to Iran while in addition, some Iraqi airlines have also been removed from the sanctions list.
According to the US Treasury Department, Fly Baghdad, Iraqi Airways, and other affiliated companies have also been removed from the sanctions list. These companies were previously sanctioned over alleged ties with the Quds Force of Iran’s Islamic Revolutionary Guard Corps.
The Treasury Department also confirmed that sanctions on two aircraft linked to these companies have been lifted. Following the news of the sanctions relief, crude oil prices in the global market recorded further declines. US West Texas Intermediate (WTI) crude fell to $75.06 per barrel, while Brent crude dropped to $78.83 per barrel.
Experts say the news of eased sanctions strengthened expectations regarding supply in the global energy market, putting additional downward pressure on oil prices. Meanwhile, US President Donald Trump announced a major private investment plan related to Iran, stating that a $300 billion private investment fund has been established for Iran, aimed at providing economic incentives in exchange for peace. According to Donald Trump, if conditions improve, Iran could become a prosperous country economically.
He said economic opportunities for Iran could be created in the case of peace and better relations. On the other hand, US Secretary of State Marco Rubio said that sanctions on Iran will remain in place until Tehran fully complies with nuclear agreements.
“No deal with Oman, Strait of Hormuz will not open immediately”: Iran. Marco Rubio said, “There will be no reward for bad behaviour,” and Iran must fully comply with nuclear agreements. In statements by US officials, while economic opportunities for Iran have been hinted at, strict conditions on nuclear issues remain in place.
Read also: Is US-Iran near to 60-days interim deal?
