Fallout of U.S. ending waivers 🇺🇸 🇮🇷 Can Iran survive 2 days ago   05:50

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CBS News
U.S. Secretary of State Mike Pompeo announced sanction waivers will no longer be allowed for Iranian oil. This continues a year-long promise to economically pressure Iran into renegotiating a nuclear deal. Behnam Ben Taleblu, senior fellow at the Foundation for Defense of Democracies, discusses what this means for U.S. international relations.

Comments 757 Comments

Anas Hassari
This will cause the rise of oil prices. This is not good even for USA as the biggest oil consumer.
Omar Ali
All that is just to stop the oil in arabs are so us can start to sell there oil and its good game
Raiyan Chowdhury
Zionist eye right in the background says all
Rinchen Rinchen
Its not good disctions usa doing
Ali Jamal
GREECE,ITALY,AND TAIWAN are back stabbers.
what's up
I feel that Islamic Sharia law, anywhere in the world, contains so much barbarism and blatant indecency amongst modern society that it needs to be destroyed.
Russia hates it, China hates it, America hates it.
Shubham Dev
Americans(famous for the tag line of ISIS Maker) are realizing two of the biggest economy and upcoming global superpowers and also highest percentage of Iranian oil buyers just show their middle finger to them ... They're just hurting their Ally's. .... And also except china rest of the countries are American ally.
akev
The Trump administration is getting played by the Saudis in a centuries long schism between the Sunnis and the Shias. How is theocratic monarchy that still executes political dissidents by public beheadings preferred to Iran?
David Darby
Is this what they call and open and free market place or is this price fixing ?
Strive Eeman
This ziopig pompio wants to plung US in economic whirlwind where they stand only to loose...
Nabil S
Turn on CBS and I See BS
Ken Havens
This will cause Iran to restart their nuclear missle plan..and guess what...they could also close the Straight of Hormuz, oil would explode in price if this happened.
Ken Havens
Honestly how can America unilaterally impose sanctions on a nation and not expect that nation to respond. What if Russia imposed sanctions on the United States for whatever reason? Would we put up with that ?? of course not. It is putting nations on a war footing. As far as Humans rights abuses...SAudia Arabia just beheaded a 16 year old child for retweeting criticism of the Saudi gov't. Sorry we cannot say Iran is bad and SAudia Arabia is good considering both nations do terrible things to their citizens.
বাতাবি লেবুর ফলন
The Emperor had spoken!
Fang Lin
傲慢的美国人。
Alex ander
i dont undestand why US doing this? could they just let the world in peace ? mind their own busses ?
Naseem Haider
AMERICA become very weak country in finance and power. America and its
alliance defeated in syria War by Iran. America is fighting with taliban
for last 17 years. American 25000 forces were killed in middle east.
America has lost 11 trillion dollar in middle east. American forces
afraid from Iran .America is not capable to fight with Iran.America is
not in position to stop iran to sell oil.
Naseem Haider
AMERICA become very weak country in finance and power. America and its
alliance defeated in syria War by Iran. America is fighting with taliban
for last 17 years. American 25000 forces were killed in middle east.
America has lost 11 trillion dollar in middle east. American forces
afraid from Iran .America is not capable to fight with Iran.America is
not in position to stop iran to sell oil.
Naseem Haider
AMERICA become very weak country in finance and power. America and its
alliance defeated in syria War by Iran. America is fighting with taliban
for last 17 years. American 25000 forces were killed in middle east.
America has lost 11 trillion dollar in middle east. American forces
afraid from Iran .America is not capable to fight with Iran.America is
not in position to stop iran to sell oil.
Naseem Haider
AMERICA become very weak country in finance and power. America and its
alliance defeated in syria War by Iran. America is fighting with taliban
for last 17 years. American 25000 forces were killed in middle east.
America has lost 11 trillion dollar in middle east. American forces
afraid from Iran .America is not capable to fight with Iran.America is
not in position to stop iran to sell oil.
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🇺🇸 🇮🇷 Can Iran survive Fallout of U.S. ending waivers 2 days ago   25:46

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As of this week, Iran is effectively shut out from the dollar-dominated financial system, as the United States' sanctions have been reimposed.

The sanctions are aimed at the heart of the Islamic Republic's economy, oil. They also target shipping, banks, and financial entities that enable Iran's oil trade.

Eight countries have been given a six-month waiver to trade with Iran: China, Taiwan, India, South Korea, Greece, Italy, Japan and Turkey. That helped to keep the lid on any global oil price disruption, for now.

While the US tries to use its currency as a weapon, "all of the eight countries that are importing oil from Iran - none of them are going to give any types of currency back to Iran," explains Dr Sara Vakhshouri, founder and president of SVB Energy International. "Iran can only import humanitarian goods or necessary goods, those goods that are not subject to sanctions back to Iran, so they're kind of bartering for food and medicine."

Additionally, the European Union is exploring "specific channels of trade with Iran banking and transactions with Iran, and if these channels are built for more formal or usable ways of working with Iran, this will of course weaken the dollar as a weapon," says Vakhshouri.

"Also, Iranians are selling their oil in local currency to these eight countries, so if we push this more or if we want to use [the dollar] as a weapon, it'll lose its influence." But at the same time, "we cannot deny the fact that all of these things have their own consequences on Iran's economy."

Major oil producers such as Saudi Arabia and Russia will stand to benefit from Iran's absence in the oil production game, especially in mid-2019 because the market is expecting an over-surplus of oil.

However, Iran's economy is not expected to collapse under the sanctions, contends Vakhshouri. "This is not the first round of sanctions on Iran ... so the Iranian government's psychology is built on living under the sanctions. Their priorities and policies are always shaped based on how they can be more resistant ... Iran's economy can still survive this round of sanctions, but what is really hurting its economy is the domestic corruption and lack of management. But would the sanctions cripple Iran's economy to the extent that the whole system would collapse? We don't expect that."

While the EU, along with China and Russia, remains committed to the 2015 nuclear deal, fighting the sanctions is proving difficult. The bloc is trying to set up a special-purpose vehicle to avoid penalties, but that plan still lacks practical details.

In the meantime, companies that need access to US markets are leaving Iran. For instance, SWIFT, the Belgium-based global financial messaging system, also said it would fall into line with the US restrictions and is disconnecting blacklisted Iranian banks.

Also on this episode of Counting the Cost:

China trade: China's President Xi Jinping vowed to further open up access to the economy for foreign companies. He was speaking at a big trade show in Shanghai, as Adrian Brown reports. Greg Swenson, the founding partner of London-based Brigg Macadam offers his take on the US-China trade war.

The world's only carbon-negative country: Bhutan has been described as the greenest country on the planet with three quarters of it covered by thick forests, home to rare wildlife. But as the country continues to develop, it's struggling to find new ways to balance economic growth with the protection of the environment, as Neave Barker reports.

Ivory Coast rubber: Rubber tree growers in Ivory Coast are emerging as the latest casualty, of the trade war between the US and China. It's Africa's leading exporter of the valuable commodity, as Nicolas Haque reports from the Grand Lahou Forest, where this 'white gold' is collected.

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