The volume of oil supply on world markets allows other countries to easily reduce oil purchases from Iran.

Axar.az reports this is stated in a memorandum signed by US President Joseph Biden and addressed to the Minister of Finance, Minister of Energy and Secretary of State. In the memorandum, Biden said he would continue to monitor the situation.

It should be noted that under Donald Trump, the United States began to impose sanctions to suspend oil purchases from Iran. As a result, Iran's oil production and exports have fallen sharply, and the country's oil has in many cases been smuggled into foreign markets.