Official statements from U.S. State Department or Iranian Foreign Ministry

Trump to Reimpose 'Maximum Pressure' Sanctions on Iran, Cutting Supply by 1 Million Barrels per Day

Nov 8, 2024, 07:50 AM

President-elect Donald Trump is expected to reimpose his 'maximum pressure policy' of sanctions on Iranian oil, potentially cutting supply by as much as 1 million barrels per day, according to Energy Aspects. This aggressive strategy aims to undercut Tehran’s support of violent proxies and its nuclear program. Relations with Tehran, which sought to assassinate the president-elect and other former American officials, are likely to worsen. Trump's victory in the US election signals the potential for stricter sanctions enforcement next year, especially as Iran's oil exports sharply declined in October amid Israeli threats to its oil facilities, reports WSJ.