The Biden administration’s agreement with Iran for the swap could be seen as a simple business transaction to free five Iranians from imprisonment in the U.S. and five Americans, some with dual citizenship, from detention in Iran.
But the agreement has broader implications for U.S.-Iranian relations, the future of Iran’s nuclear program and for the tense relationship between Iran and Israel, which is largely defined by the status of Iran’s nuclear capabilities.
Under the deal, the U.S. unfreezes US$6 billion in Iranian oil revenue so the Iranian government can purchase humanitarian goods, such as food and medicine. The money was frozen in a restricted South Korean bank account in 2018 after then-President Donald Trump pulled the U.S. out of the Iran nuclear deal and reinstated strict U.S. sanctions against Iran. The U.S., Russia, China, the U.K., France and Germany had reached the deal with Iran in 2015.
Yet, in the world of global politics, matters are seldom as simple or straightforward as they may appear. In fact, in this instance, they could hardly be more complex. And the geopolitical and domestic stakes involved could hardly be higher. There are three primary reasons for this.
1. Iran has been a long-standing issue in US domestic politics
The Biden administration’s agreement with Iran for the swap could be seen as a simple business transaction to free five Iranians from imprisonment in the U.S. and five Americans, some with dual citizenship, from detention in Iran.
But the agreement has broader implications for U.S.-Iranian relations, the future of Iran’s nuclear program and for the tense relationship between Iran and Israel, which is largely defined by the status of Iran’s nuclear capabilities.
Under the deal, the U.S. unfreezes US$6 billion in Iranian oil revenue so the Iranian government can purchase humanitarian goods, such as food and medicine. The money was frozen in a restricted South Korean bank account in 2018 after then-President Donald Trump pulled the U.S. out of the Iran nuclear deal and reinstated strict U.S. sanctions against Iran. The U.S., Russia, China, the U.K., France and Germany had reached the deal with Iran in 2015.
Kosmos Energy said on Tuesday a Paris-based arbitrator has ruled in favour of BP, prohibiting Kosmos from selling to third parties liquefied natural gas from the