Bloomberg's Claim of an 'Unwritten Oil Agreement' Between the Islamic Republic and the U.S.

Bloomberg's news site reported that after several months of 'behind-the-scenes diplomacy' between the Islamic Republic and the U.S. governments, there seems to be significant progress not only in prisoner exchanges and possibly a decision to reduce uranium enrichment but also in 'unwritten agreements' regarding 'oil exports.' While the global oil market has created a kind of 'informal barter' between the two sides, U.S. officials claim that oil sanctions against the Islamic Republic have been reduced. According to the report, about two weeks ago, when some U.S. media reported on the initiation of the process for the release of five Iranian-American prisoners in exchange for the release of six billion dollars of blocked funds in South Korea, both Tehran and Washington confirmed this matter. Bloomberg's report indicates that U.S. officials privately acknowledged that they have 'gradually' reduced the Islamic Republic's oil sanctions, resulting in 'increased oil sales' to 'the highest level' since the return of sanctions five years ago, as well as the highest amount of oil sales to China. Recently, it was also revealed that Tehran and Washington have been holding indirect and secret negotiations through Qatar and Oman for about two years and have reached an 'unwritten agreement' on 'some issues.' According to this report, while Joe Biden hopes that keeping oil prices low will help his re-election next year, the benchmark oil price fell below 85 dollars this week, providing reassurance to consumers and central banks in Western countries. Bloomberg concludes that although neither country expects the nuclear agreement to be revived soon, in recent weeks, an agreement has been made regarding the potential exchange of prisoners for the transfer of six billion dollars of Iran's blocked oil revenue in South Korea, and there are also reports indicating that the Islamic Republic has significantly reduced the speed of uranium enrichment to a level usable for nuclear weapons. Earlier, Bloomberg reported on August 30, citing a company that monitors satellite images of oil tankers, that Iran's daily oil exports have increased to about two million barrels. Bloomberg states that such an increase raises oil supply in the global market at a time when other oil producers have reduced their output. Sheikh Mohammed bin Abdulrahman Al Thani, the Prime Minister of Qatar, said on Friday, August 25, that he hopes the recent prisoner exchange agreement, which his country facilitated between Iran and the United States, will lead to broader discussions about the Islamic Republic's nuclear issue. According to Reuters from Dubai, the Prime Minister of Qatar described his country as a 'key mediator' between Iran and the U.S. for prisoner exchanges and expressed readiness and hope for further mediations between the two countries.