By Micah Halpern
I've Been Thinking:
Yesterday Iran cut its export of oil to Greece and to Spain. They also threatened to cut their exports to Italy and Germany.
Why would they do that? Don't they need markets for their oil?
Aren't they suffering from sanctions already?
They are and they do. But ... Great force and pressure has been laid on nations around the world by the United States and her Western allies to stop importing oil from Iran. As a result, as of July 1, the EU is supposed to discontinue all Iranian imported oil. So the Iranians are making the first move - they are stopping first.
Iran is one upping the EU ante. They are forcing thU to scramble for much needed oil resources. As opposed to Iran hurting economically, Iran is causing economic pain to those countries that were about to strike out against them.
Only one nation in the EU, Norway, produces enough oil to sustain itself.
Once again, the Iranians are outsmarting everyone.
Micah@MicahHalpern.com
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