Iran agrees with the US to ease sanctions - this will allow it to compete with Russia in the Asian oil market - Bloomberg
The United States also promised to unblock $6 billion worth of Iranian assets held in South Korea

Iran has agreed with the United States to ease sanctions, which will allow it to increase oil supplies to China, Bloomberg writes.
This was done in order to keep fuel prices from rising in the United States, but it may also affect the supply of Russian oil to Asia, as Iran will compete more actively with Russia in this area.
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According to the newspaper's sources, Washington was able to agree with the Iranian authorities on the exchange of arrested citizens and slowing down uranium enrichment.
In turn, the United States eased sanctions imposed in 2018 by the Donald Trump administration after the breakup of the "nuclear deal" and promised to unblock Iranian assets worth $6 billion stored in South Korea.
As a result, Iran's daily oil exports to China increased to an average of 1.5 million barrels per day, the highest since 2018. According to Bloomberg, this was one of the reasons for the recent decline in oil prices.
In turn, Russian oil supplies by sea over the past month have reached 2.84 million barrels, which is 1.5 million barrels less than in mid-May. In general, its supplies to Asia have decreased by 30% over this period.
Sources say that Iran plans to increase production to 3.6 million barrels per day. Before sanctions were imposed in 2018, the country produced 3.8 million barrels per day.
In May 2018, U.S. President Donald Trump announced that Washington would reinstate all sanctions against Iran that had been lifted as a result of the 2015 deal. On November 5 of the same year, a package of restrictions came into effect that affected imports of Iranian oil.
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