Iran Is Already In A ‘Very Dangerous’ Economic Position

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.

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