Will Cunliffe
Research Analyst, The Officials
Plan B…or is it C…or D?
The US is switching to economic warfare, the Asian bunker market is getting seriously tight whilst Asia also looks to the US for crude.
The US is switching to economic warfare, the Asian bunker market is getting seriously tight whilst Asia also looks to the US for crude.
The US is playing its old ace card. They’ve clearly realised they can’t defeat Iran militarily, so are switching tactics to a long-term plan of economic pressure. Bessent wants to isolate Iran entirely; any country that helps or supports Iran will be cut off from the US dollar system. However, this will likely backfire; the USD remains dominant because of its dependability. If the US begins to unilaterally cut off countries and entities, it will only alienate many. The dollar is struggling as it is. The long list of new sanctions spans from vessels to brokers and operators the US claims have facilitated Iranian oil trade. As yet, the Americans haven’t sanctioned Chinese banks or refiners – but Bessent has been very clear in his threat towards them. China, meanwhile, has come out loud and clear against any US unilateral action against Iran.
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About Asia Edition
Benchmark reports published at the close of the trading day in Asia.
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