Saudi-Russian relations have been underpinned by their need to keep global oil prices up, and recent statements by both countries suggest that their cooperation could expand. This should be alarming for the United States.
The implementation of the Joint Comprehensive Plan of Action (JCPOA) in January 2016 made it possible for Japan to seek to restore Iranian oil imports to their pre-sanctions level. Initially, imports of Iranian oil did not rise as sharply as might have been expected ... However, from May through July, Japanese purchases rebounded strongly.
From January to June 2016, South Korea’s imports of Iranian crude skyrocketed by 123%, due to the lifting of sanctions and the country’s strong demand for cheap Iranian condensate.
Since the lifting of nuclear-related sanctions in January 2016 as described in the Joint Comprehensive Plan of Action (JCPOA), India’s crude oil imports from Iran have increased markedly ,,, India is currently Iran’s second-largest crude oil customer, after China.
There are two main reasons as to why Chinese crude oil imports from Iran have not grown as much as might have been expected. First, Iran's oil industry has yet to fully recover from the sanctions and to regain its optimal production level. Second, China has continued to diversify its import sources in order to reduce geopolitical risks and oil supply uncertainties.
Since Iran signed the nuclear deal with world powers in July 2015, Tehran has seen a flood of foreign visitors. Nine heads of state, 16 foreign ministers and dozens of other senior-level officials from across the world have come looking for diplomatic deals and economic opportunities. Iran is open for business and, as of mid-May, Tehran had secured about $3.5 billions in foreign investment since the nuclear deal, and billions more are in the pipelines.
The fourth paper in the Regional Cooperation Series explores feasible possibilities for short-term and long-term infrastructure integration across several key sectors: energy, I.C.T., transport and facilitation.
In this week's briefing, MEI experts Charles Lister, Herman Franssen, and Paul Salem provide analysis on recent and upcoming events including the battle for Fallujah, Thursday's OPEC meeting, and Saad Hariri's defeat in Tripoli, Lebanon.
