{"id":25957,"date":"2019-03-14T21:17:10","date_gmt":"2019-03-14T21:17:10","guid":{"rendered":"https:\/\/www.ncr-iran.org\/en\/issues\/economy\/25957-iran-regime-lost-10b-in-oil-revenue"},"modified":"2023-01-20T00:39:13","modified_gmt":"2023-01-19T23:39:13","slug":"iran-regime-lost-10b-in-oil-revenue","status":"publish","type":"post","link":"https:\/\/www.ncr-iran.org\/en\/news\/economy\/iran-regime-lost-10b-in-oil-revenue\/","title":{"rendered":"Iran Regime Lost $10b in Oil Revenue"},"content":{"rendered":"<img decoding=\"async\" class=\" size-full wp-image-52865\" src=\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/sites\/2\/2019\/03\/Brian_Hook_the_State_Departments_special_representative_on_Iran.jpg\" alt=\"Iran Regime Lost $10b in Oil Revenue\" title=\"Brian Hook, the State Department\u2019s special representative on Iran\" width=\"800\" height=\"450\" srcset=\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2019\/03\/Brian_Hook_the_State_Departments_special_representative_on_Iran.jpg 800w, https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2019\/03\/Brian_Hook_the_State_Departments_special_representative_on_Iran-300x169.jpg 300w, https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2019\/03\/Brian_Hook_the_State_Departments_special_representative_on_Iran-768x432.jpg 768w, https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2019\/03\/Brian_Hook_the_State_Departments_special_representative_on_Iran-696x392.jpg 696w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\n<p>By Staff Writer<\/p>\n<p>The Iranian regime has lost $10 billion in revenue since US sanctions came into full force in November and removed roughly 1.5 million barrels per day (bpd) of Iranian crude from global markets, according to a US State Department official on Wednesday.<\/p>\n<p>Brian Hook, the State Department\u2019s special representative on Iran, <a href=\"https:\/\/www.reuters.com\/article\/us-ceraweek-energy-iran\/us-says-iran-has-lost-10-billion-in-oil-revenue-due-to-sanctions-idUSKBN1QU21X\" target=\"_blank\" rel=\"noopener noreferrer\">told<\/a> the CERAWeek energy conference that the US\u2019 plan to bring Iranian crude exports to zero is moving along nicely, citing that a global oil surplus as a big help in this regard.<\/p>\n<p>Hook said that Donald Trump had \u201cmade it very clear that [the US needs] to have a campaign of maximum economic pressure\u201d on Iran without shocking the oil market.<\/p>\n<p>The US began their maximum pressure campaign last year, when Trump pulled out of the 2015 nuclear deal citing Iran\u2019s blatant cheating and reimposed tough Obama-era sanctions on everything from Iran\u2019s use of the US dollar to their automobile industry to their lucrative oil industry.<\/p>\n<p>The oil sanctions hurt the most, because 70% of Iran\u2019s GDP comes from that sector, but in order to stabilise the markets and ensure that the sanctions work in the long run, the US issued sanctions waivers to eight of Iran\u2019s top buyers, in exchange for them cutting their purchases by over 20%. Hook advised that the US is monitoring global supplies for impact from sanctions in order to ensure they are going about this in a \u201cresponsible way\u201d.<\/p>\n<p>Hook, a senior policy adviser to Secretary of State Mike Pompeo, said: \u201cWhen you have a better-supplied oil market it enables us to accelerate our path to zero. But we also know that there are a lot of variables that go into a well-supplied and stable oil market.\u201d<\/p>\n<p>However, now it appears that these waivers \u2013 due to expire in May \u2013 will not need extensions because the US Energy Information Administration (EIA) projects that this year supply will exceed demand by 440,000 bpd.<\/p>\n<p>It is clear that the oil sanctions have worked, so where do we go next? Well, the logical option is what the US is already trying to do. They want more sanctions on Iran for human rights violations, financing of terrorism, missile launches, as well as US allies to come on board.<\/p>\n<p>This is what the Iranian people want too. The sanctions are not harming them because sanctions relief did not help them. The Regime used that money to suppress the people and without it, the mullahs are liable to overthrow by the people, which will bring freedom to Iran.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Staff Writer The Iranian regime has lost $10 billion in revenue since US sanctions came into full force in November and removed roughly 1.5 million barrels per day (bpd) [&#8230;]<\/p>\n","protected":false},"author":10,"featured_media":52865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[178],"class_list":{"0":"post-25957","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-save"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Iran Regime Lost $10b in Oil Revenue - NCRI<\/title>\n<meta name=\"description\" content=\"By Staff Writer The Iranian regime has lost $10 billion in revenue since US sanctions came into full force in November and removed roughly 1.5 million\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ncr-iran.org\/en\/news\/economy\/iran-regime-lost-10b-in-oil-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iran Regime Lost $10b in Oil Revenue - 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