The Biden administration is mulling the wholesale roll back of Trump-era sanctions against Iran in a bid to get the Islamic Republic to return to compliance with the 2015 nuclear deal. Reports from Vienna where indirect talks between the U.S. and Iran are under way quoted unidentified American officials as saying that they are open to lifting sanctions inconsistent with the nuclear deal or that deny Iran the relief it is entitled to should it return to compliance with the accord.
Some of the sanctions that could be lifted would be Iran’s access to the international financial system including dealing in dollar based transactions. The risk for the U.S. is that it would be accused by allies like Israel and Saudi Arabia of caving in to Iran.
