[D]espite the clear and present threat Iran poses to the security of both the Middle East and the wider world, Western governments are still proving reluctant to take any measures needed to cripple the Iranian economy. A key factor in the reluctance of
Legislation pushing Joe Biden to ratchet up sanctions on Iranian crude oil is on track to become law as soon as this week. But don’t expect the president to fully use his new powers any time soon. The measure was passed by the US House of Representatives over the weekend…
(Bloomberg) Legislation pushing Joe Biden to ratchet up sanctions on Iranian crude oil is on track to become law as soon as this week. But don’t expect the president to fully use his new powers any time soon.Most Read from BloombergTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayRay Dalio’s Famous Trade Is Sputtering and Investors Are BailingStocks Climb as US Earnings Kick Into High Gear: Markets WrapTikTok to Remove Executive Tasked With Fending Off US ClaimsRussians Transform
Despite Congress passing new sanctions targeting Iran s oil sector, the Biden administration is unlikely to vigorously enforce them, particularly due to the complexities involving China s role in Iran s oil exports.