Speaking in Moscow. National Security Advisor John Bolton said that Washington`s sanctions against Tehran have had an impact on the global oil market. and that both Russia and the US would benefit from US sanctions policy. Sputnik reported.
Saying that the US has increased its own oil production and exports. Bolton said that Russia too stood to benefit from the decline of Iranian output. `It`s true that Russia as an oil exporter will benefit from rising oil prices. And we [also] benefit as oil producers. But in time. the market will level off.` Bolton said. speaking to Russian radio station Echo Moskvy.
President Trump unilaterally withdrew the United States from the Joint Comprehensive Plan of Action (JCPOA) Iran nuclear deal in May. and promised to introduce several waves of tough US economic sanctions against Tehran. including restrictions targeting Iran`s energy sector and sanctions penalizing foreign companies doing business with Iranian energy firms. After the US withdrawal from the nuclear deal. Russia. China. and the European signatories to the JCPOA have scrambled to try to salvage the treaty. This has included measures to bypass the impending US energy sanctions. set to go into effect next month.