What to know about oil trade after Ebrahim Raisi wins Iran elections

The ultraconservative cleric is sceptical of nuclear talks with the West.

Iran is set to usher in a new government headed by Ebrahim Raisi, an ultraconservative cleric wary of engaging with the U.S.

His overwhelming victory in Friday’s presidential election -- albeit on a low turnout -- came as world powers try to resuscitate a 2015 accord that limited Tehran’s atomic activities in return for the easing of American sanctions. If the European Union, Russia, China and others manage to broker a deal between the U.S. and Iran, that would probably enable the Islamic Republic to ramp up crude exports at a time when the coronavirus pandemic is still suppressing demand