• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 2 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 7 days Wind droughts
  • 1 day ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 1 day "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 5 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 4 hours Xi Is Set To Be Re-Elected As China’s Leader
  • 8 days Oil Prices Fall After Fed Raises Rates
  • 10 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 13 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)

US Slaps Sanctions On Iranian Central Bank—What’s Next?

The United States on Friday has taken the first step in its response to the attacks on Saudi oil infrastructure by imposing more sanctions on Iran, but the response might not stop there.

The latest round of sanctions targets the Central Bank of Iran, the National Development Fund of Iran, and Etemad Tejarate Pars Co, which the United States alleges has hidden money transfers that have been used to purchase military equipment, according to a Friday statement by the U.S. Treasury Department.

The sanctions add to the already crippling sanctions on the Middle Eastern country that has stripped Iran of its oil income by drying up most of its buyers, “denying Iran the wealth to create their terror campaign around the world,” US Secretary of State Mike Pompeo said in August.

 “Attacking other nations and disrupting the global economy has a price. The regime must be held accountable through diplomatic isolation and economic pressure.” Pompeo said over Twitter on Friday.

But diplomatic isolation and economic pressure are not the only responses that the United States is considering. Pentagon officials, sources say as reported by Foreignpolicy.com, are expected to present President Donald Trump with military options in a Friday meeting, as there hasn’t been a consensus so far about just how far the United States should go in its response to Iran.

Sources have said that some of the options being recommended are covert in nature, and likely include a cyberattack or some form of electronic warfare, followed by diplomatic efforts that could take place at the UN General assembly next week, a senior official has said. The Pentagon officials’ recommendations are thought to be more measured than options the State Department favors, such as a strike or more boots on the ground in the Middle East.

By Julianne Geiger for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Mamdouh Salameh on September 21 2019 said:
    US sanctions on Iran have so far failed to adversely affect Iran’s oil exports with China for one reported to have raised its imports of Iranian crude from 690,000 barrels a day (b/d) to 1.2 million barrels a day (mbd) in August. Therefore, imposing sanctions on Iran’s Central Bank will not fare better.

    The United States has no shred of evidence that Iran was behind the attack on Aramco’s oil infrastructure. Moreover, it realizes that even a small symbolic strike against Iran will mean war and this will mean in broader terms the end of US national interests in the whole Middle East. It could also mean the destruction of Saudi major oil facilities and the risk that thousands of US troops inside the US Embassy in Baghdad and in Deir ez-Zur in Syria could be taken hostages or killed. In addition, US naval assets including Aircraft Carries could be within range of Iranian missiles.

    As a result, oil prices could surge to $140 a barrel impacting adversely on the US economy and costing President Trump the 2020 presidential elections.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News