Iran Sells Oil to Fund Militias as Tensions Rise with the US
Iran has initiated the sale of nearly 3 million barrels of oil stored in China to raise funds for militias amid increasing threats from Israel. The oil is part of a larger 25-million-barrel stockpile that was dispatched to China in 2018 to circumvent US sanctions. Following discussions between Iranian officials and Chinese authorities, the shipment was approved despite earlier hesitations from China.
The financial boost from the sale is critical for Iran's economy, especially as ongoing regional conflicts have weakened its allied militias. The situation is precarious as tensions are expected to escalate with the imminent inauguration of President-elect Donald Trump, who has indicated a return to stricter sanctions against Iran.
This development highlights the intricate geopolitical dynamics in the Middle East and raises concerns about the potential ramifications for US-Iran relations in the near future.
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