The Trump Effect: Iran’s Leaders Struggling to Defend Economy From US Sanctions

The Trump Effect: Iran’s Leaders Struggling to Defend Economy From US Sanctions

The Trump Effect: Iran’s Leaders Struggling to Defend Economy From US Sanctions

$OIL

Iran is looking to ways to keep exporting Crude Oil and other measures to counter US economic sanctions.

Since last month, when US President Donald Trump pulled out of the nuclear which lifted most sanctions in Y 2015, Iran’s rial has dropped 40% in value, prompting angry protests by bazaar traders usually loyal to the Islamist rulers.

Speaking after 3 days of protests, Supreme leader Ayatollah Ali Khamenei said the US sanctions are aimed at turning Iranians against Islamic government.

“They bring to bear economic pressure to separate the nation from the system … but 6 US Presidents before him (Trump) tried this and had to give up,” Ali Khamenei said on his website Khamenei.ir.

With the return of US sanctions making it very difficult to access the global financial system, President Hassan Rouhani has met with the head of parliament and the judiciary to discuss counter-measures.

“Various scenarios of threats to the Iranian economy by the US government were examined and appropriate measures were taken to prepare for any probable US sanctions, and to prevent their negative impact,” IRNA said.

One such measure was seeking self-sufficiency in gasoline production, the report added.

The government and parliament have also set up a committee to study potential buyers of Crude Oil and ways of repatriating the income after US sanctions take effect, Fereydoun Hassanvand, head of the parliament’s energy committee, was quoted as saying.

“Due to the possibility of US sanctions against Iran, the committee will study the competence of buyers and how to obtain proceeds from the sale of oil, safe sale alternatives which are consistent with international law and do not lead to corruption and profiteering,” Mr. Hassanvand said.

The United States has told allies to cut all imports of Iranian Crude Oil from November, a senior State Department official said Tuesday.

Khamenei said the United States was acting together with Sunni Muslim Gulf Arab States that regard Shi’ite Muslim Iran as their main regional foe of trying to destabilize the government in Tehran.

“If America was able to act against Iran, it would not need to form coalitions with notorious and reactionary states in the region and ask their help in fomenting unrest and instability,” Ali Khamenei told graduating Revolutionary Guards officers, in remarks carried by state TV.

In the dust up between Trump Vs Khamenei my bet is on President Trump.

Have a terrific weekend

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