by Poorang Nova
Following a weekend of trading threats, the tensions between the US and Iran could skyrocket in the coming days as the first round of nuclear sanctions against the Iranian Regime fall back into place on August 6.
There is a significant risk that Iran will also use this event to openly restart its nuclear programme, seeing these sanctions as the final nail in the coffin of the 2015 nuclear deal that the US withdrew from in May.
While China, Russia, Germany, France and the UK currently remain a part of the deal, these US sanctions will also affect them and could cause them to pull out as well. Many companies have already pulled out to avoid US sanctions and keep access to the financial markets.
Helima Croft, global head of commodity strategy at RBC, said: "I think it's highly likely, if the Europeans cannot pull a rabbit out of their hat and find a way around sanctions then at a minimum, we're talking about a nuclear restart and they resume suspended activities."
Cliff Kupchan, chairman of Eurasia Group, explained that he believed that Iran would also begin work on its nuclear programme, producing low-enriched uranium and installing advanced centrifuges, which would consign the nuclear deal to the scrapheap.
Of course, these experts are working under the assumption that Iran shut down its nuclear programme in 2016 and have not worked on it since, which is not true in the slightest. There is much evidence for the US and the Iranian Resistance that Iran has actually moved its nuclear programme to secret sites where international inspectors are not allowed to go.
Previous policies of appeasing the Regime and trusting them to do the right thing have proved fruitless, so the only logical option is to get tough on Iran. The rest of the world should follow the US’s lead.
The US sanctions will come into place early next month, but Iran has already said that they will punish the world for these sanctions by cutting off access to the Strait of Hormuz, through which one-fifth of global oil exports travel, and that these sanctions are the start of the “mother of all wars” between the US and Iran.
Trump wrote in an all-caps tweet on Sunday that Iranian President Hassan Rouhani should be wary about threatening the US or face “CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE”.
On Monday, his administration official reinforced the US’s harsh stance, showing that the US is not messing about and that sanctions will be reinstated.