<\/p>\n<\/p>\n
The Trump administration\u2019s push to reduce Iranian oil exports to zero by strangling Tehran with sanctions stirred admiration, worry and bewilderment across the world this week.<\/p>\n
Since withdrawing the U.S. from the 2015 Obama-era nuclear agreement with Tehran in May, Washington has reimposed sanctions on the Islamic Republic. Even harsher penalties are set to start on on November 4 aimed at punishing countries who buy Iranian oil by blocking their access to U.S. markets and financial institutions.<\/p>\n
The White House\u2019s aggressive measures have been potent, energy analysts agree, with data showing Iranian oil exports plunging about 35 percent since April.<\/p>\n
The New York Times business section acknowledged the successful strategy with a headline: \u201cTrump Hit Iran With Oil Sanctions. So Far, They\u2019re Working\u201d.<\/p>\n
\u201cNearly two months before American oil sanctions go into effect, Iran\u2019s crude exports are plummeting,\u201d the frequent critic of Mr. Trump wrote this week. \u201cInternational oil companies, including those from countries that are still committed to the nuclear agreement, are bailing out of deals with Tehran.\u201d<\/p>\n
The New York Times added: \u201cAnd remarkably, the price of oil in the United States has risen only modestly while gasoline prices have essentially remained flat. The current global oil price hovers around $80 a barrel, $60 below the highs of a decade ago.\u201d<\/p>\n
Israel\u2019s leading paper, Haaretz, took another angle, in an opinion: \u201cTrump\u2019s Iran Sanctions Policy Is Working, but America Could Regret It\u201d.<\/p>\n
Haaretz economics editor David Rosenberg argued that pushing Iran\u2019s daily oil exports down and rattling its economy is a \u201cvery dangerous game\u201d because its Revolutionary Guard and hardline Mullahs \u201chave a high level of tolerance for economic distress\u201d and are unlikely to be pushed into negotiations.<\/p>\n
The alternative and Washington\u2019s goal, Mr. Rosenberg contends, is regime change, which is tricky.<\/p>\n
\u201cTrouble is that regime change is a risky business that can end in unexpected ways,\u201d he wrote. \u201cIf that is what the Trump administration really wants, it is playing a very dangerous game, especially with a country as big as Iran.\u201d<\/p>\n
On Thursday, Mr. Trump acknowledged a critical piece of the \u201cZero Iran Oil Exports\u201d plan: Beckoning OPEC to play its part in keeping the world oil markets stable as Iran\u2019s contribution dwindles. Iran is the group\u2019s third largest oil producer.<\/p>\n
\u201cMonopoly [OPEC] must get prices down now,\u201d the president tweeted before the cartel\u2019s meeting this weekend.<\/p>\n
An opinion for Bloomberg Markets criticized the White House\u2019s approach in a piece on Friday: \u201cTrump\u2019s OPEC Tweets Mix Fear and Delusion: It\u2019s not a monopoly, and he\u2019s as much to blame for high prices as anybody.\u201d<\/p>\n
Bloomberg\u2019s Liam Denning said that while U.S. sanctions appear to be throttling Iran, Mr. Trump also looks nervous about oil price stability as American voters ready for November\u2019s midterm elections.<\/p>\n
\u201cBlaming OPEC is nice and, importantly, fits well inside 280 characters. But it isn\u2019t reality,\u201d Mr. Denning wrote.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
The Trump administration’s push to reduce Iranian oil exports to zero by strangling Tehran with sanctions stirred admiration, worry and bewilderment across the world stage this week. The Trump administration\u2019s push to reduce Iranian oil exports to zero by strangling Tehran with sanctions stirred admiration, worry and bewilderment across the world this week. Since withdrawing […]<\/p>\n","protected":false},"author":1,"featured_media":17732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,419,34],"class_list":["post-17731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-business-finance","tag-iran","tag-politics"],"_links":{"self":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/posts\/17731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17731"}],"version-history":[{"count":0,"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/posts\/17731\/revisions"}],"wp:attachment":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}