"The European Union has decided on oil sanctions that Tehran has long said would represent a declaration of war. What will follow?"
This decision to impose a EU oil embargo, sets a potential bomb ticking, timed to detonate on July 1. The Hindu : Opinion / Op-Ed : Pushing Iran to the brink.
The U.S. has already begun beefing up its military presence in the region, and the IRGC is planning naval war games next month.
The U.S. has already begun beefing up its military presence in the region, and the IRGC is planning naval war games next month.
The Strait of Hormuz is the kink in the hose of the Gulf's oil supply to the world. A small amount of pressure can send crude prices soaring and starving the world's oil-dependent economies. Maintained over the long term, that is enough to strangle global economic recovery. But it is a decidedly double-edged one.
Until now the costs of a war with Iran outweigh the gains of setting the nuclear programme back. But if the U.S. were going to war over oil, that cost-benefit analysis would change.
Even if Washington and Tehran remain determined to avoid all-out war, with every passing month there is a rising chance of one breaking out by accident.
No comments:
Post a Comment
To check spam, comments on older posts are moderated, so expect some delay before your comments are published