Energy Report: Tightening The Noose

The Biden administration is starting to realize that their policies of engaging and appeasing Iran have failed. The administration’s desperation to get back into the flawed 2015 Joint Comprehensive Plan of Action, which was meant to rein in Iran's nuclear program in return for loosened economic sanctions, only has allowed Iran to become more of a disruptive force in the region. The deal's failure to rein in Iran’s missile capability while helping fund their activities in Yemen, Syria and other places. The Biden administration retreated from Trump-era policies of getting tough on Iran and isolating Iran in favor of begging the rogue regime to come back and deal while they looked away as Iran openly ignored US sanctions and supported attacks on Saudi Arabia by Houthi rebels. All of that appeasement seems to have failed as hardline Iranian President Ebrahim Raisi has laughed off the overtures and the US says that Iran is not serious about getting a deal.

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So now another shift back towards Trump-era policies warning that they will crack down on those that facilitate Iran’s cheating. In A Wall Street journal exclusive, it seems that the Biden administration is to tighten sanctions enforcement. The Journal writes that this is the first sign of Washington increasing economic pressure on Tehran as diplomatic efforts to restore the 2015 nuclear deal falter. According to senior State and Treasury Department officials, the U.S. will send a top-level delegation, including the head of Treasury’s Office of Foreign Assets Control, Andrea Gacki, next week to the United Arab Emirates. The U.A.E. is a top U.S. ally but also Iran’s second-largest trade partner and a conduit for Iran’s trade and financial transactions with other countries. The U.S. officials will meet with petrochemicals companies and other private firms and banks in the U.A.E. doing billions of dollars of trade with Iran. They will warn that the U.S. has “visibility on transactions that are not compliant with sanctions,“ one of the senior officials said. ”Those banks and firms face extreme risk if this continues.” The visit could be followed by sanctions against Emirati and other firms, the officials said.

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