Review the Effects of Sanctions on International Oil Contracts

One of the economic and political tools to impose demands and provide the interests of a country to another country is to use the sanctions tool. The country of influence, along with other countries, imposes its goals on other countries by imposing restrictions.. An example is a situation that has been created by boycotting some countries in the Iranian oil industry. One of the implications of these sanctions is its impact on international oil contracts and the forced withdrawal of foreign international oil companies from Iran. Iran's oil has always been regarded as one of the important energy producing poles. In particular, oil production in Iran began on the initiative of foreign investment.. The main question in this article is what sanctions affect oil contracts? What will be the fate of the agreement after the boycott? This article examines the sanctions in terms of force majeure and the changing circumstances of the situation and, in the end, solutions have been proposed to overcome this challenge.