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. 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.
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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."
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