Iran Oil Exports Cut by ‘Extreme’ Sanctions, Biden Adviser Says

US sanctions have succeeded in reducing the amount of oil Iran exports, a White House energy adviser said Thursday.

Iranian oil exports have been cut from as much as 3 million barrels a day to as little as 1 million barrels a day, President Joe Biden’s energy security adviser Amos Hochstein said on Bloomberg Television.

WATCH: Amos Hochstein, President Joe Biden’s energy security adviser, says Iran’s oil export program is “under extreme sanctions.”

Source: Bloomberg

“They have an enormous amount of reserves and resources and the reason that they are not doing that is because they’re under sanctions,” Hochstein said. “By and large, they are under extreme sanctions.”

US Treasury Secretary Janet Yellen said in October that the Biden ...