It is anticipated that this decision is being made to bring down global oil prices. However, some critics say it is only to avoid defeat in the upcoming elections. The US administration has millions of barrels of strategic reserves and prices could be brought down within hours of the announcement of release of oil from these reserve.
In all sincerity, Iran must not accept this offer until the US removes all the sanctions. If Iran could endure sanctions for more than four decades, even during COVID pandemic the US should also pay high price for initiating proxy war in Ukraine.
United States and European Union were perfectly aware of the consequences of imposing sanctions on Russia and stopping purchase of oil and gas. Still they kept on dumping lethal arms in Ukraine rather than facilitating ceasefire.
It is the most appropriate time to teach a lesson to United States that its atrocities can’t be continued for indefinite period. The US was successful in stopping oil supplies from Iran, Iraq, Libya and Venezuela, but stopping sale of Russian oil and gas was not just possible.
To conclude it may be said that United States has lost war in Ukraine despite sending tons of lethal arms and injecting trillions of dollars.
OPEC must also not increase output in July and August and let United States get a taste how sanctions bites a country, which has imposed sanctions on dozens of countries.
