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Iran ratcheting up the fear factor with their OPEC Governor out saying:
– Oil prices above $100 is yet to come and Trump is the one to blame
– Trump is hostage of Saudi, Russian oil policies which will do little to bring oil prices downUS to reimpose sanctions on Iran as expected will go into force at 12:01 AM Tuesday
US senior administration official adds:
Snap back sanctions to target purchase of US bank notes, gold and precious metals trade, steel, coal, auto industry
Sanctions will continue to bring significant financial pressure on Iran’s economy
US policy is not to force Iran regime change but seek to modify the Iranian government’s behavior
Trump is ready to meet with Iranian leadership any time
US is not looking to grant exemptions or waivers, but will examine requests on a case-by-case basisIranian Pres. Rouhani Responds to US Sanctions:
the United States cannot be trusted, Tehran has always believed in diplomacy
Trump’s call for direct talks aimed at creating division inside Iran, for US domestic consumptionThe Venezuelan oil industry situation is also very interesting, to include all the loans owed China by Venezuela.
In reference to the above, according to Reuters in the past week Venezuela has been having its oil tankers go to Cuba to avoid asset seizures and tankers waiting in Venezuela’s ports would take weeks to fill due to how many oil tankers (ships) are backed up waiting at ports in Venezuela. The debt Venezuela owes China was just one of the situations presently facing Venezuela’s oil industry.
Personally feel sorry for citizens of Venezuela who are caught in the middle of the economic crisis there created by Venezuela’s dictator, with both Reuters and the WSJ reporting inflation in Venezuela is expected to exceed 1,000,000% this year. Can’t imagine what 1,000,000 percent inflation would be like!
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