Biden unlikely to cut Iran’s oil lifeline after Israel attack

Iran’s unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran’s oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts.
Shortly after Tehran launched its weekend attack – retaliation for Israel’s suspected April 1 strike on the Iranian consulate in Damascus – House Republican leaders accused President Joe Biden of failing to enforce existing measures and said they would take up this week a series of bills to sharpen sanctions on Iran.
Speaking to Fox News on Sunday, Representative Steve Scalise the No. 2 House Republican, said the administration had made it easier for Iran to sell its oil, generating revenues that were being used to “go fund terrorist activity.”