Legislation pushing Joe Biden to ratchet up sanctions on Iranian crude oil is on track to become law as early as this week. But don’t expect the president to fully use his new powers any time soon.
The measure was passed by the US House of Representatives over the weekend as a response to Iran’s attack on Israel earlier this month. On paper, at least, they promise to broaden the scope of restrictions on Iran’s exports of crude by extending coverage to foreign ports, vessels and refineries that knowingly engage in the trade.
