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“Those who doubt that U.S. President Donald Trump’s Iran sanctions will hit their target should reconsider. It is true that their immediate impact on Iran’s oil export revenues will likely be minimal. But in the longer term, the effects of the sanctions regime could be significant. In fact, it could make it nearly impossible for Iran to sustain its current oil production.
Earlier this month, the United States reimposed bans on Iranian oil exports after announcing its withdrawal from the Iran nuclear deal in May this year. The agreement, negotiated in 2015, traded a reduction in international sanctions on Iran for limitations on the country’s nuclear development program. The Trump administration’s renewed embargoes target Iran’s petroleum and shipping industries and place limits on financial transactions that are critical to the country’s oil and natural gas exports.
Observers were immediately skeptical that the renewed embargoes would do much good.
First, as soon as the administration announced the new regime, it also granted waivers to eight countries—among them the largest importers of Iranian oil—including China, India, South Korea, Japan, and Turkey. In 2017, these five countries purchased 70 percent of Iran’s crude oil and condensate exports. China, a signatory to the nuclear agreement, makes up almost a quarter of Iran’s petroleum export market.”
JJ Editor's Daily Picks
"The biggest topic in British political circles on Monday wasn’t the country’s impending departure from the European Union. It was milkshakes..."
"I often disagree with Rep. Justin Amash, R-Mich., but I've been disturbed by the idea that he should be run out of the Republican Party just because he believes President Trump committed impeachable offenses."
"The Icelandic band Hatari, whose members are quite vocal in their animosity towards Israel, held up Palestinian flags... Madonna, likewise, had two of her performers wear Israeli and Palestinian flags on their costumes."
"To celebrate the 10-year anniversary of Quentin Tarantino's "Inglourious Basterds" premiering at the Cannes Film Festival, I turn to movie critic Roger Ebert's old review of "Raiders of the Lost Ark." (Trust me on this one.)"
"The money is already here—and has been for years. In the midst of a housing crisis, an injection of cash into the superheated real-estate market seems likely to cause an uptick in evictions and displacement."
"Parents concerned about YouTube debate whether to let their children have their own channels; some forbid it, others send them to summer camp..."
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"With his new book, Howard Stern proves that his rightful place is among the prophets and moral visionaries, not the ‘shock jocks’"
"I’m terrified of parenting in the anti-vaxxer age: Anti-vaccine propaganda isn’t just harmful to children. It threatens to erode our entire sense of community."
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"...it represents an impressive achievement: a victory of humankind against the chaos that pervades the universe."
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