Biden says enough oil in world markets lowers demand for Iran's oil

By News Centre

The volume of oil supply in world markets still allows other countries to significantly reduce their purchases from Iran.

According to Azernews, this has been released by the press service of the White House and stated in the memorandum signed by US President Joseph Biden. It follows from the document that the American leader, based on the results of a "careful study" of the information given to him about the situation in the global economy, came to the conclusion that "there are enough oil reserves and oil products of other countries except Iran" in the markets. This allows to "significantly reduce the volume" of fuel purchases from Tehran by "foreign financial institutions," as the document states.

Biden said that he will "continue to closely monitor this situation."

The memorandum was sent to US Secretary of State Antony Blinken, Treasury Secretary Janet Yellen, and Energy Secretary Jennifer Greenholm.