CNBC: Iran is already in a ‘very dangerous’ economic position as US prepares major new sanctions
* Six oil tankers and a U.S. spy drone have been attacked since May either in or near the Strait of Hormuz — the world’s busiest transit lane for seaborne oil shipments that separates Iran from its neighboring Gulf states.
* Tensions between the U.S. and Iran have spiked since May 2018, when Trump withdrew from the 2015 nuclear deal and reinstated sweeping sanctions on the country.
* Iran’s oil exports, the government’s main source of revenue, have been hit hard by U.S. sanctions.
President Donald Trump is threatening to impose “major” new sanctions against Iran on Monday, ramping up the pressure on the Islamic Republic at a time when its economy is straining under the weight of financial restrictions.
Six oil tankers and a U.S. spy drone have been attacked since May either in or near the Strait of Hormuz — the world’s busiest transit lane for seaborne oil shipments that separates Iran from its neighboring Gulf states.
The flurry of attacks has escalated tensions between Washington and Tehran.
On Saturday, Trump said via Twitter that he would impose additional sanctions against Iran in a bid to prevent the country obtaining nuclear weapons. The U.S. already has sanctions on Iran’s oil industry and other sectors.
Trump added that economic pressure would be maintained unless Iran’s leadership changed course.
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WNU Editor: Sanctions always take time to work, and even longer for the target country to change its policies. In the case of Iran the people who live there have already endured 40 years of hardship .... I am sure they can handle a few more years, albeit reluctantly. But the real impact will be on those who rule Iran. The country is now only able to export about 400,000 barrels of oil per day, and from what I am hearing from China, they are exporting their oil at a ridiculously low price. With the Iranian Supreme Leader vowing no discussions, the government has no options but to intimidate and provoke. My prediction. Expect more oil tanker attacks and "close calls" between the U.S. military and Iran in the coming weeks/months. And as for the Iranian economy .... a slowdown, high inflation, and loss of government services.
10 comments:
The oil tanker attacks are good for Iran in terms of raising global oil prices. Also, China's wet dream is that Trump goes for a confrontation with Iran and risks his reelection.. it would be worth trillions to them
A further loss is funding for Iran's wars in Yemen, Syria and global terror operations. Obviously it will prioritize funding its nuclear weapons work ahead of them.
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I wish I could live in the fantasy where Iran is trying to "provoke" it's own destruction.
Elizabeth Rosenberg, a senior fellow at the Center for a New American Security, told me she doubted that Khamenei was using financial instruments that are exposed to U.S. jurisdiction anyway. Rosenberg, who worked on Iran sanctions during the Obama administration, said the sanctions are more symbolic than practical. “Not only do [the new sanctions] not have a major economic impact on Iran, they’re also kind of a sideshow to the military tensions and escalations and levers available that have been used so far by the United States and Iran,” she said.
The sanctions are just something to shut the Saudis and Israelis up for another couple days.
Name dropping again squirrel
Dear Fred anyone who worked for Obama is an idiot and a traitor.
The Center for a New American Security is billed as nonpartisan.
The CEO of Center for a New American Security is Victoria Nuland, who is Jay's fave.
Richard Armitage is an alum. What is he worth? He let a special prosecutor trash Scooter, when he was the Valerie Plame Leaker! Is he a man?
https://en.wikipedia.org/wiki/Center_for_a_New_American_Security
Victoria "dumb enough to admit to coordinating the Ukrainian coup over her personal cell phone" Nuland
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