How Iran was Able to Boost Oil Industry Despite US Blockade

Venezuelan anti-Chavista economist Francisco Rodríguez responded to a question from a Bloomberg journalist, who said that for the UN special rapporteur it was difficult to answer why Iran, a country that has been subjected to illegal sanctions similar to those issued against Venezuela, produces oil while the Latin American country does not.

“The answer is simple,” said Rodríguez. “Iran has had sanctions for four decades. When the first sanctions were levied in 1979, Iranian oil production plummeted, as it did in Venezuela. ” He recalled that the Persian nation progressively recovered the rhythm of production, however it never reached its levels prior to the imposition of unilateral coercive measures.

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The data published by OPEC on the performance of the oil countries in the last quarter of 2020 indicates that the Venezuelan industry recorded a small increase. The Venezuelan economist cited the figures to substantiate claims that economies tend to adjust over time to sanctions. “This recovery could already be occurring in Venezuelan oil production,” he said.

Therefore, it is not that the sanctions did not have an effect on Iran. If framed like this, it could be argued that the deterioration of the oil sector in Venezuela was not a direct result of the criminal measures of the United States government.

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On the contrary, Iranian production has actually declined in recent years, as a result of the intensification of sanctions, and the adoption of multilateral sanctions between 2012 and 2016, commented Rodríguez, “although exceptions were made that allowed that allowed it to continue exporting to some of its business partners.”

Instead of making a comparison that doesn’t fit the individual contexts of blockaded nations, Rodríguez explained that the review of the development of Iran’s economy “can help us understand a possible path of evolution of the Venezuelan economy if it continues to be sanctioned until 2060.”

Washington’s sanctions, which were former President Donald Trump’s main foreign policy tactic, caused cuts in the export earnings of Iran and Venezuela, but are also leading both countries to strengthen their ties of economic cooperation to resist the economic warfare.


Featured image: The Iranian flag is hoisted on the Iranian oil vessel Adrian Darya 1, in the Strait of Gibraltar (Photo: Reuters).

(Mision Verdad)

Translation: Orinoco Tribune


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