https://www.wsj.com/articles/biden-administration-iran-oil-hamas-israel-gaza-df192c53
The Iranian surge in oil exports since President Biden took over has brought Iran an additional $32 billion to $35 billion, according to the Foundation for Defense of Democracies. The calculations are tricky, but the cause of the Iranian windfall is clear: As part of Mr. Biden’s quiet diplomacy with Iran, the U.S. has curtailed sanctions enforcement. Customers and middlemen have concluded the risk is low and the discount on Iran’s oil is too good to pass up.