Trump Declares Iran Enemy No.1 and Prepares to Strike Its Economy
President Donald Trump is renewing his hardline stance against Iran, aiming to reduce Iranian oil exports to zero and prevent Tehran from acquiring nuclear weapons.
A Tough Approach to Iran
- Ahead of his meeting with Israeli Prime Minister Benjamin Netanyahu, Trump signed a memorandum reviving the "maximum pressure" strategy.
- He accused Joe Biden of weak sanctions enforcement, which, according to him, allowed Tehran to expand its nuclear program and fund armed groups in the Middle East.
- "Iran must not have nuclear weapons," Trump emphasized.
What’s the Status of Iran’s Nuclear Program?
According to IAEA reports, Iran has enriched uranium to 60%, bringing it closer to weapons-grade levels. However, Tehran denies any intention to build a nuclear arsenal.
What Sanctions Will Be Imposed?
- Cutting Iran’s oil exports: During his first term, Trump slashed Iran’s oil sales to record lows, but under Biden, exports rebounded to $53 billion in 2023.
- Targeting buyers: The U.S. may use the SHIP 2024 law to sanction foreign ports and refineries processing Iranian oil.
- Pressure on China: China remains Iran’s largest oil buyer, bypassing sanctions through yuan transactions and intermediaries. However, after recent U.S. sanctions on Russian tankers, China and India refused to accept ships under U.S. restrictions.
What Are the Implications for the Middle East?
The International Energy Agency believes that Saudi Arabia and the UAE could compensate for the loss of Iranian oil on global markets. However, escalating tensions could drive up energy prices and further destabilize the region.
The renewed U.S.-Iran confrontation threatens regional stability and global economic repercussions.
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