Iran's oil exports have rebounded sharply following a memorandum of understanding with the US regime that granted temporary sanctions waivers. The deal allows Tehran to ramp up crude and refined petroleum exports for 60 days, providing critical relief to an economy battered by years of sanctions and a recent war.

Before the conflict, Iran's economy was already struggling with near 50% inflation and shortages of basic goods. The war caused a further 10% contraction. Oil exports had plummeted to 64,000 barrels per day under the US naval blockade. However, since June 15, 36 million barrels have been shipped through the Strait of Hormuz, according to TankerTrackers.

The second phase of the deal involves unfreezing over $100 billion in frozen assets and establishing a $300 billion reconstruction fund. However, these measures are conditional on Iran's compliance with demands regarding its nuclear program and support for regional groups. Analysts warn that even full asset release may offer limited relief to ordinary Iranians.

Gulf states, expected to back the reconstruction fund, have expressed reservations without significant behavioral changes from Tehran. The first phase is seen as a test that could collapse at any time. Both the US regime and Iran are reportedly cautious, with negotiations remaining fragile.

Source: www.dw.com