World Briefing Plus (Video): Sanctions Off, Shockwaves On

From Tehran to Moscow - and all the way to Asia - Washington’s oil gamble is fuelling global instability, reshaping geopolitics and rising costs

I am gobsmacked!

The Trump administration has temporarily lifted sanctions on seaborne Iranian oil - effectively opening the taps for Tehran to further bankroll its war machine against the United States and its allies.

And it doesn’t stop there.

Earlier, Washington eased restrictions on sanctioned Russian oil - handing the Kremlin yet another financial lifeline as its war in Ukraine grinds on.
Treasury Secretary Scott Bessent attempted to frame the move as strategic:
“In essence, we will be using Iranian barrels against Tehran to keep the price down.”

But here’s the reality: most of those barrels are already spoken for. A significant share of sanctioned oil continues to flow - largely unabated - to China via a sprawling “shadow fleet” operating beyond the reach of enforcement. As The New York Times noted, the policy “underscores the lengths that the Trump administration is prepared to go to reduce global oil prices.”

Let’s be clear: it also underscores the lengths it’s willing to go to protect itself politically - particularly with November’s midterm elections looming.

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