Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Over the weekend, as part of the $95 billion package providing funding for aiding Ukraine, Israel and Taiwan which passed by a vote of 360-58 on Saturday, the US House also passed new sanctions on Iran’s oil sector set to become part of a foreign-aid package, putting the measure on track to pass the Senate within days. The legislation, as Bloomberg reports, would broaden sanctions against Iran to include foreign ports, vessels, and refineries that knowingly process or ship Iranian crude in violation of existing US sanctions. It would also…