The Biggest Victims Of Trump’s Economic D-Day On Iran
Widens Sanctions Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com.
Trump’s “economic D-Day” against Iran is built around one of Washington’s most powerful weapons: access to the U.S.
The problem is that the deeper Washington pushes into Iran’s remaining trade, the bigger the targets become.
Chinabuys more than 80% of Iran’s seaborne crude.
Iraq relies on Iranian gas for as much as 40% of its electricity generation.
Turkey imported 4.5 bcm of Iranian gas in the first half of this year, while India still maintains a heavily one-sided trade relationship with Tehran.
The UAE, once one of Iran’s most important commercial and financial conduits, has already suspended dealings with Tehran.
Treasury can sanction tankers, traders and small Chinese refiners without creating much collateral damage outside the Iranian trade.
Going after the major banks financing that commerce is different, however.
The same is true of forcing Baghdad to choose between complying with Washington and keeping Iranian gas flowing to Iraqi power stations.
The Trump administration took a cautious approach on Monday.
Its first round targeted nearly 60 individuals, companies and vessels and expanded sanctions across shipping, aviation, technology, gold and digital assets, but left China’s major banks untouched.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment