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Old Friday, August 17, 2018
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Default US's Re-imposed Sanctions

Yet again, a diatribe from the Trump administration with regard to Iran's nuclear activities resulted in re-imposed sanctions, much hardened that the preceding ones. The administration warned the world in general and the European region, in particular, to stop making any trade deal with Iran and importing oil from the country. Such belligerent stances will not only add salt to the injuries of the crippling economy of Iran but also adversely affect the European banking and industrial sectors. Iran's economy is mainly dependent on its oil exports, and a larger part of the oil trade is exported to the European countries. On the other hand, the European private banks and industries will subsequently find themselves in a confounding situation.
This probable shift will give Russia and China a leverage, as the former will try to further split the US from its European allies, while the latter will consider importation of Iranian oil at a discounted price. Iran's already crippling economy will be further enfeebled and its hegemony in the region with regard to its nuclear activities will fade away. In such a scenario, the US ought to revise its decisions and maintain a moderate approach to ease the situation. Since the US is the key force of the Joint Comprehensive Plan of Action (JCPOA), it ought to show its global maturity by balancing its relations with its allies as well as mitigate the sanctions. Decisions taken with haste will persuade the Iranian government to further strengthen its nuclear capabilities, which might convince Saudi Arabia to match Iran's nuclear ambitions. It will eventually pave the way for a new wave of regional animosity among the Middle East countries. Therefore, the US must seek alternative steps, especially calling P5+1 nations for a new nuclear summit to bury all kinds of the hatchet. The world is loath to witness any trade or nuclear war.

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