Iran’s President Hassan Rouhani has threatened the United States with “the mother of all wars” if Washington continues pressuring it with sanctions and attempts to foment unrest among the already disgruntled population.
“America should know that peace with Iran is the mother of all peace, and war with Iran is the mother of all wars,” Reuters quoted Rouhani as saying during a meeting with local diplomats. “You are not in a position to incite the Iranian nation against Iran’s security and interests,” he added.
Reuters reports that the latter refers to an offensive by Washington aimed at stimulating more unrest among Iranians using speeches and online platforms, according to unnamed sources familiar with this offensive.
Washington slapped economic sanctions on Iran after President Trump pulled out of the so-called Iran nuclear deal earlier this year. These will come into effect in early November and will specifically target crude oil exports.
In June, reports emerged that Washington has been pressuring its Asian allies to reduce their crude oil imports from Iran to zero, which prompted a response from Tehran that took the form of a threat that if the United States tried to cut its oil exports to zero, it would shut the Strait of Hormuz—the world’s biggest maritime oil route—disrupting all Middle Eastern oil shipments. Related: IEA: World Is Not Spending Enough On Energy
Initially, Washington remained firm in its insistence that no one will be granted a waiver from the sanctions, but lately it has begun to soften its position in an apparent realization that some of its allies could suffer unintended fallout from the oil sanctions.
Based on the U.S. official stance on sanction waivers, analysts expect Iran’s crude oil exports to fall by as much as two-thirds to about 700,000 bpd by the end of the year. This 700,000 bpd will go into China for the most part, with smaller amounts shipped to India, Turkey, and possibly other consumers if waivers are granted.
By Irina Slav for Oilprice.com
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