Sanctions blamed for price of oil

Extensive u.s. sanctions on Iran as documented, are said to have originated from an attack on the US embassy in Tehran in 1979. Fifty two American diplomats and citizens were said to have been held hostage, reportedly for 16 weeks or so. Reason not documented.
Sanctions may have resulted in current petrol prices which are said to be increasing at an alarming rate; though the money raised, according to Iran, will be distributed to the neediest.
The European commision has banned European citizens and companies from complying with sanctions on Iran.