The Biden administration lifted sanctions on three former Iranian officials and several energy companies amid stalled nuclear negotiations, signaling Washington’s willingness to further ease economic pressure on Iran if the country changes course.
The U.S. Treasury Department on Thursday repealed sanctions on former senior National Iranian Oil Co. officials and several companies involved in shipping and trading petrochemical products. The administration described the moves as routine administrative actions, saying the officials were removed from U.S. blacklists because they no longer held positions in the sanctioned entities.
But officials familiar with talks under way in Vienna on the future of the 2015 multilateral Iran nuclear agreement said the Biden administration has been looking at how it could inject momentum into the negotiations. Oil prices tumbled nearly 2% after the news, but quickly regained their losses, continuing to trade over $70 a barrel.
“These actions demonstrate our commitment to lifting sanctions in the event of a change in status or behavior by sanctioned persons,” Secretary of State Antony Blinken said in a statement accompanying the notice of the action.
The actions came as U.S., Iranian, European and Chinese negotiators in Vienna are preparing to start a sixth round of talks to restore the 2015 nuclear deal with Iran, the U.S. and five other world powers. Discussions are expected to start up again this weekend in Vienna, according to people involved in the negotiations.