Biden’s Middle East dilemma: Closing the petrodollar spigot as Iran rakes in billions – Javier Blas

Biden’s Middle East dilemma: Closing the petrodollar spigot as Iran rakes in billions – Javier Blas

In the wake of recent attacks on American troops in the Middle East, President Joe Biden vows to hold those responsible accountable.
Published on: 

In the wake of recent attacks on American troops in the Middle East, President Joe Biden vows to hold those responsible accountable. Amidst military options, an alternative response emerges: closing the petrodollar spigot. Despite US sanctions, Iran's oil production has soared, generating over $10 billion in additional revenue last year. Theories abound on Washington's role, but the White House's inaction or complicity is apparent. To curb Iran's windfall, imposing stringent sanctions and targeting the illicit dark fleet could be the solution, as the Islamic Republic eyes continued economic gains.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

By Javier Blas

President Joe Biden has promised to "hold all those responsible to account" after a series of weekend attacks against American troops in the Middle East, blaming Iranian-backed militias. The response, he said, would come "at a time and in a manner [of] our choosing."

___STEADY_PAYWALL___

Loading content, please wait...

Related Stories

No stories found.
BizNews
www.biznews.com