bne IntelliNews – A tug-of-war ensues over what role Iran (and its oil) should play in the new world order

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The geopolitical and economic tectonic plates are shifting, and a kind of tug-of-war is ensuing over what role Iran should play in the new world order. That became clear on June 27 from a series of developments.

France caused a stir when a French Presidency official stuck his neck out anonymously to tell reporters that the international community should examine all options to ease Russia’s pressure on the West’s energy supply that has been driving up prices, including Talks with oil producers like Iran and Venezuela.

Both Iran and Venezuela remain subject to US oil sanctions but would have much more oil to offer the world if sanctions were lifted. In the case of Iran, such sanctions lifting could only come about if indirect talks between Iran and the US to revive the 2015 nuclear deal, or JCPOA, due to take place in Qatar from June 28 are successful.

Interestingly there was reports It is circulating in the Israeli and other Middle Eastern press that as part of an easing of sanctions ahead of talks in Qatar to curb Iran’s nuclear development program in exchange for sanctions lifting, a US-brokered deal allowing Iran to work with Israeli Approval to transfer oil to Syria is in progress.

“There are resources elsewhere that need to be explored,” the French Presidency official said, as quoted by Reuters. said on the sidelines of the G7 summit in Germany when asked how high oil prices could be mitigated.

The outstanding issue between Iran and the US is no longer linked to the nuclear dossier in the negotiations but to US terrorism sanctions, he said, referring to Tehran’s call for Washington’s appointment of Iran’s Islamic Revolutionary Guard Corps (IRGC), a single entity of the state to be removed as a terrorist organization.

“So there is a knot that may need to be untied…to get Iranian oil back on the market,” the official was quoted as saying to reporters. “We have Venezuelan oil that needs to be put back on the market.”

Regarding Russian leader Vladimir Putin’s plans to reorient his country’s trade and investment east and south, April 27 report by Iranian news agency Tasnim that Iran has submitted an application to join the BRICS (Brazil, Russia, India, China and South Africa) grouping of five major emerging economies. Iranian Foreign Ministry spokesman Saeed Khatibzadeh noted that BRICS member states account for 30% of world economic output and 40% of the population. The population of Iran is around 85 million.

As for Iran’s arch-rival over the Persian Gulf, Saudi Arabia, that Guardian reported that senior Israeli and Saudi military officials have met in secret US-brokered talks to discuss defense coordination against Iran during Al-Jazeera reported that Tehran claimed that the Saudis are ready for more direct bilateral talks to achieve rapprochement between their two countries.

Khatibzadeh reportedly said, “There are still cases of disagreement between Iran and Saudi Arabia, but they would need to be resolved between the two countries, something that will help the entire Islamic world.”

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