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looking beyond borders

foreign policy and global economy

Archive for the tag “oil”

U.S. Blames Iran For Saudi Oil Attack, Trump Says ‘Locked And Loaded’

U.S. President Donald Trump said the United States was “locked and loaded” for a potential response to the attack on Saudi Arabia’s oil facilities, after a senior U.S. administration official said Iran was to blame. Trump also authorised the use of the U.S. emergency oil stockpile to ensure stable supplies after the attack, which shut 5% of world production and sent crude prices soaring more than 19% in early trade on Monday, before moderating to show a 10% gain.

Read Here – Reuters

Also Read: Saudi oil facility attacks may have come from Iraq

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Iran Rejects US Accusation Over Drone Attacks On Aramco Plants

Iran has dismissed accusations by the United States that Tehran was behind drone attacks that set ablaze two major Saudi Aramco oil installations, as Saudi Arabia raced to restore operations at the damaged facilities. Yemen’s Houthi rebels claimed responsibility for Saturday’s assault on Abqaiq – the world’s largest oil processing plant – and the Khurais oilfield. The pre-dawn strikes knocked out more than half of crude output from the world’s top exporter.

Read Here – Al Jazeera

Will China Freeze America Out Of The Arctic?

The implications of China owning a large “stake” in what will likely become strategic Arctic waterways is concerning since China could use its economic leverage to deny passage to U.S. or allied ships or those ships that threaten its interests. To be clear, this has not happened and China has not declared that this is one of their strategic goals; but, money talks!

Read Here – The National Interest

Why the Strait of Hormuz Is Still the World’s Most Important Chokepoint

The Strait of Hormuz links the majority of the world’s people who live along the shores of Asia and East Africa to the heart of the Middle East. Long before the discovery of oil, it was the world’s carotid artery. Cut off the blood supply almost anywhere else and the world would adapt. Here, however, an interruption could be fatal: 90 percent of oil exported from the Gulf, about 20 percent of the world’s supply, passes through Hormuz.

Read Here – Foreign Affairs

The Godfather Of The Islamic Republic Of Iran

Ayatollah Ali Khamenei’s 30-year reign at the helm of Iran reveals a dual Machiavellian modus-operandi as supreme leader—puppeteer for the elected and patron for the unelected—and explains the current power dynamic in Tehran.

Read Here – The National Interest

How Modi Turned The Gulf To His Favour

Indian Prime Minister, Narendra Modi meeting the Crown Prince of the Kingdom of Saudi Arabia Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud on the sidelines of the G-20 Summit, in Osaka. Photo/PIB

So why did the Islamic powers in the Gulf embrace Modi over the past five years despite presumptions suggesting otherwise? The answer lies more within the interests of the Gulf nations itself than Modi government’s outreach, which however successfully lassoed in the interest of these cash-rich states looking towards the Indian economy to secure their own future financial interests, as regional behemoths such as Saudi Arabia start their attempts to shake-off a decades long addiction to the petro-dollar.

Read Here – ORFOnline

Taking On Tehran

Forty years after the revolution that ousted the Shah, Iran’s unique political-religious system and government appears strong enough to withstand US pressure and to ride out the country’s current economic difficulties. So how should the US minimize the risks to the region posed by the regime?

Read Here – Project Syndicate

A Tanker War In The Middle East—Again?

Tensions in the Gulf are an eerie echo of the tanker war that erupted in the late eighties during the eight-year conflict between Iraq and Iran. The tanker war was launched in 1984, when Iraq attacked Iran’s oil terminal and oil tankers at Kharg Island, in the northern Persian Gulf. Iran responded by striking tankers—initially from Kuwait and later from other nations—that ferried Iraqi oil.

Read Here – The New Yorker

Oil At $100? Experts Predict Where Crude Could Go If An Iran Conflict Breaks

Oil is in the crosshairs as the prospect of confrontation brews between the U.S. and Iran. At least, that’s how Iranian officials would have it. A top military aide to Iran’s supreme leader Ayatollah Ali Khamenei, Yahya Rahim Safavi, warned over the weekend that “The first bullet fired in the Persian Gulf will push oil prices above $100.” He added, “This would be unbearable to America, Europe and the U.S. allies like Japan and South Korea.”

Read Here – CNBC

Russia’s Grand Plan To Gain Power In The Shadow Of U.S. Sanctions

The expiration of U.S. sanctions waivers for buyers of Iranian oil exemplifies how difficult it is today, even for the United States, to achieve foreign-policy goals without significant loses. Russia is in a prime position to deliver the oil removed from markets because of U.S. sanctions against Iran, which will result in development of cooperation between Moscow and countries important to American foreign policy. Thus, Russia will gain new leverage against the United States.

Read Here – The National Interest

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