Why China Thinks It Can Resist Trump’s Economic Threats on Iran
Beijing can squeeze U. S. critical mineral supplies and has enough oil to withstand the loss of Iranian crude, Chinese analysts say.
Beijing can squeeze U. S. critical mineral supplies and has enough oil to withstand the loss of Iranian crude, Chinese analysts say.
Mohammad Bagher Ghalibaf, lead negotiator in talks with the United States, made the comments after President Trump vowed an “economic D-Day” against Iran.
Fears about the war in Iran, government deficits, the economy and corporate borrowing stirred global markets.
More vessels are navigating the Strait of Hormuz with their location devices turned off to evade attacks by Iran, adding to the threat of collisions.
President Trump appeared to suggest that the United States would impose economic penalties on countries that do business with Iran, though he did not specify what actions he would take.
Bond markets remained volatile, as investors assessed the geopolitical turmoil.
The president did not specify what actions he would take, and he has on other occasions abandoned threats to dramatically escalate the war with Iran.
The United Arab Emirates, Iran’s most important regional trading partner, announced a total embargo on transactions with Tehran on Tuesday.
With Iran making ship traffic perilous, a U. S. operation offers a way out for some energy exports, stealthily shepherding tankers on dangerous journeys.
Iran has survived decades of sanctions. Faced with more, it is likely to escalate rather than surrender, analysts said.
The Emirates has long been a major trading hub for Iran, and analysts say it has been key to Iranian efforts to evade international sanctions, which the country denies.
Even if a cease-fire materializes, Gulf exporters recognize that relying strictly on the Strait of Hormuz is a risk they can no longer take.
The stalemate over the Iran war hardened and commercial shipping in the Strait of Hormuz continued to dwindle.
The Strait of Hormuz is Iran’s best leverage to get Washington to release Iran’s frozen assets, lift economic sanctions and end its naval blockade.
Local communities need Washington’s help to fight foreign hackers.
Investigators cautioned that the assessment was preliminary. There were no indications that any water supply had been rendered unsafe to drink.
Tariffs are back, but this time there is a war in the Persian Gulf and oil has hit $100 a barrel.
Stocks in Asia were down following a sell-off in the U. S. markets over soaring oil prices, rising borrowing costs and worries about the technology industry.
Stocks in Asia were down following a sell-off in the U. S. markets over soaring oil prices, rising borrowing costs and worries about the technology industry.
A Dubai-based logistics giant unveiled a deal with the United Arab Emirates on Wednesday to develop a new port system that would bypass the Strait of Hormuz.