Enriched Tensions

By: Ryan Wolfe / July 8, 2019

According to reports, Iran is quickly going to breach the Uranium-stockpile limit set by the current nuclear deal.  President Hassan Rouhani of Iran has already warned that a new deal needed to be in action by Sunday June 7, 2019 or the Islamic Republic will increase enrichment of Uranium.  Globally, there is much concern with the growth rate of Iran’s uranium cache, because they are just a step away from weapon-grade levels of uranium.

Strike carrier

Iran is attempting to flip the tables, and create their own high pressure campaign on the rest of the world.  This comes after President Trump’s sanctions, which substantially slowed the sale of crude oil and appeared to aid in slowing down Iran’s economy.  Europe has attempted to work around the U.S. sanction, but has been unsuccessful.  This is all on the tail of recent attack on oil tankers in the Strait of Hormuz as well as the Gulf of Oman.  Even though Iran has denied involvement, they were responsible for placing mines that targeted oil tankers in the same bodies of water.  This waterway passes between 20 and 25% of the global oil on a daily basis.    

Currently Iran is on the fringe of compliance, but have not shown signs of slowing the Uranium Enrichment to maintain compliance with the current nuclear deal.  As response, the US has placed an aircraft carrier strike team near the Persian Gulf to prepare for action from Iran’s threats.  General Bagheri of Iran, also mentioned blocking off the Strait of Hormuz is not out of the question.  This blockage would prevent 100% of the daily oil from passing through. There would be no exceptions as Gen. Bagheri eluded. 






Categories: crude oil, Regulation, OPEC, Iran, Trade, nuclear deal, transportation, Oil & Gas News, energy, Global Energy, Trump, sanctions, crude, oil economy, World Oil Market, President, Gulf of Oman, Hormuz

Ryan Wolfe

Written by

Ryan Wolfe

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