Trump’s slithering away from full sanctions on Iran because the US can’t enforce them and it would disrupt the oil market the year before the 2020 election. From Tom Luongo at tomluongo.me:
Sanctions on Iran have failed. The weakness of the U.S. position in the oil markets is now complete. Donald Trump’s Energy Dominance strategy has failed.
The announcement by Secretary of State Mike Pompeo (R – The Eschaton) that no more sanctions waivers will be granted to importers of Iranian oil. Those that do so will face sanctions.
But let’s look at what is actually on the table. Waivers will be extended to a year from now during a ‘wind-down’ period. But, I thought these past six months were the ‘wind down’ period Don?
I told you these would get extended the minute they were granted. Because three of these countries — India, Turkey and China — are in open revolt over the policy.
And they have built plenty of infrastructure to get around these sanctions when or if they are ever implemented.
Three of the eight countries granted waivers — Italy, Greece and Taiwan — do not need waiver extensions as they’ve already cut their imports to zero.