Connect with us

China

Analysis: Biden unlikely to sanction Iran’s oil exports, gas prices ‘critical during an election year’

Published

on

GettyImages 1127383825 scaled

Analysts say President Joe Biden is unlikely to “prompt dramatic sanctions action on Iran’s oil exports” due to “worries about boosting oil prices and angering top buyer China” according to Reuters.

Speaking to Fox News on Sunday, House Republican Representative Steve Scalise, said the administration had made it easier for Iran to sell its oil, generating revenues that were being used to “go fund terrorist activity.”

The Biden administration has maintained for months that among its primary goals is to keep the Gaza conflict between terror group Hamas and Israel from turning into a wider regional war. However, House Republican leaders accused President Joe Biden of failing to enforce existing measures and said they would take up this week a series of bills to sharpen sanctions on Iran.

Kimberly Donovan, a sanctions and anti-money laundering expert at the Atlantic Council, said that oil-related sanctions have not been strictly enforced in the past couple of years.

“I would not expect the administration to tighten enforcement in response to Iran’s missile and drone attacks against Israel over the weekend, mainly for concerns (that) could lead to increases in oil prices,” she said.

“The price of oil and ultimately the prices of gas at the pump become critical during an election year.”
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

China

New documents show China trying to establish ‘satellite state’ in Caribbean

Published

on

China shutterstock 1376982239

China has been “exploiting a fragile security environment and taking advantage of the region’s need for economic investment to gain influence and advance its malign agenda” in a move that challenges U.S. hegemony in the Americas, U.S. Southern Command Comm. General Laura Richardson recently told Congress in written testimony.

The Caribbean island nation of Antigua and Barbuda, located about 220 miles from the U.S. Virgin Islands, is where China is planning to establish a special Chinese-run economic zone, according to documents reviewed by Newsweek

Just The News  reports that per the documents, the area will have its own customs and immigration facilities, a shipping port and it will even issue passports. China will also establish different kinds of businesses that will specialize in things from facial surgery to virology, the latter of which is closely associated with the research in Wuhan that is the suspected source of the COVID-19 pandemic.

A spokesperson for SOUTHCOM said that the U.S. military is “aware that China may use its commercial and diplomatic presence for military purposes. In Asia, Africa and the Middle East, China has already abused commercial agreements at host-country ports for military aims; our concern is they may do the same in this region.”

More than two-thirds of the 31 nations under SOUTHCOM’s responsibility have signed onto China’s belt-and-road initiative, which is Beijing’s program to lend money to developing nations to use for infrastructure projects, according to Just The News.

Several nations have had problems with repaying such loans, resulting in Beijing seizing the country’s assets. For example, Sri Lanka struggled to pay back Beijing in 2017 and instead signed off the rights to a strategic port, according to Foreign Policy.

Rep. Eric Burlison, R-Mo., a member of the House Oversight Committee proving China’s incursion inside the U.S. sphere of influence, told Just the News on Monday night that Beijing’s aggression in the Caribbean reminded him of the Soviet’s intervention in Fidel Castro’s Cuba more than a half century earlier.

“It reminds me of Russia’s involvement in Cuba, just 220 miles off the shore of the US Virgin Islands. We have Antigua. It used to be considered the United States back yard. Unfortunately, today, it’s China’s front yard,” Burlison told the “Just the News, No Noise television show. “And China has used the united front to enter into loan agreements and contracts to create trade zones within Antigua in order to gain a foothold into the Caribbean.”

“And this is just part of their efforts around the globe, whether it’s in African countries or Laos. They’re they’re creating a network to try to undermine the U.S. dollar and try to end run around some of our tariffs and other programs,” he warned.

Continue Reading

Trending