A war in the Persian Gulf would profoundly destabilize the global oil
system. If the Trump administration strikes Iran, unilaterally or in
conjunction with Saudi Arabia, and targets the state’s oil facilities,
these attacks will take more resources offline. Although Iran’s oil
output has declined significantly since the United States reimposed
sanctions in 2018, the country still produces more than 2 million
barrels of oil per day and exports
about half a million barrels per day of petroleum products and
liquefied petroleum gas to a variety of resource consumers. Airstrikes
would remove these supplies for the market, while other oil producers
are struggling to compensate for the loss of Saudi resources.
Unsurprisingly, Chinese and European officials have adopted a cautious attitude toward the crisis. Although China’s foreign ministry condemned the attack, spokesperson Hua Chunying advised the parties “to avoid taking actions that bring about an escalation in regional tensions.” She also refrained from attributing responsibility for the strikes to a specific actor. German Chancellor Angela Merkel and British Prime Minister Boris Johnson pushed for an international response to the attacks. However, they also emphasized the “importance of avoiding the further escalation of tensions in the region.” Given this reticence, if the United States wants to strike Iran, it will have to go it alone.
Starting a war to protect oil markets will only backfire for the US.
Read more: The Real Reason Trump Won’t Attack Iran – Foreign Policy
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Unsurprisingly, Chinese and European officials have adopted a cautious attitude toward the crisis. Although China’s foreign ministry condemned the attack, spokesperson Hua Chunying advised the parties “to avoid taking actions that bring about an escalation in regional tensions.” She also refrained from attributing responsibility for the strikes to a specific actor. German Chancellor Angela Merkel and British Prime Minister Boris Johnson pushed for an international response to the attacks. However, they also emphasized the “importance of avoiding the further escalation of tensions in the region.” Given this reticence, if the United States wants to strike Iran, it will have to go it alone.
Starting a war to protect oil markets will only backfire for the US.
Read more: The Real Reason Trump Won’t Attack Iran – Foreign Policy
Support EU-Digest, which has reported the news without any political affiliation since 2004, and opposes those who seek to discredit and even destroy news organizations who believe in the right of a free Press. You can do that by investing in an advertisement in EU-Digest, or by giving a donation to keep our efforts going : to donate or advertise and pay by credit card, click on: https://www.paypal.com/webapps/hermes?token=8BP18304C1657151J&useraction=commit&mfid=1567106786154_8591ae1288ebf
