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WASHINGTON - U.S. lawmakers have tucked sanctions on Iran's oil exports in the House of Representatives' aid package for Ukraine, Israel and the Indo-Pacific after Tehran's missile and drone strike on Israel last weekend.
Despite a wide range of existing U.S. sanctions on Iran's oil exports over its nuclear program, the shipments have increased amid demand for the oil from China and as networks outside of the U.S. financial system deal in the oil.The package, which includes billions of dollars of aid for Ukraine, Israel and the Indo-Pacific, contains several measures on Iran sanctions.
However, the bill includes 180-day waivers that Biden could invoke that would avert oil price spikes.
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