{"id":35572,"date":"2018-06-28T06:39:48","date_gmt":"2018-06-28T11:39:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35572"},"modified":"2018-06-28T06:40:38","modified_gmt":"2018-06-28T11:40:38","slug":"donald-of-arabia-oil-sanction-idiocy-another-oil-shock-coming","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35572","title":{"rendered":"Donald of Arabia, Oil Sanction Idiocy: Another Oil Shock Coming"},"content":{"rendered":"
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Donald of Arabia, Oil Sanction Idiocy: Another Oil Shock Coming<\/a><\/h3>\n<\/div>\n
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I did not believe Trump would be so foolish as to force the entire world to accept Iranian sanctions. I was wrong.<\/section>\n<\/div>\n<\/header>\n
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Here’s my general policy: When you are wrong, it’s best to admit it or someone will admit it for you, in a worse way.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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I was wrong about how far Trump would carry his foolish policy on Iran.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Hedgeye energy analyst Joe McMonigle got it correct as this Energy Flashback<\/a> shows.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Choking Point<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Yesterday, Trump tightened the noose on Iran. How tight?<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Consider this International Law Advisory on Iranian Sanctions<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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The Department of the Treasury\u2019s Office of Foreign Assets Control (OFAC) and Trump Administration officials have explained that primary and secondary sanctions will be reimposed after 90- or 180-day \u201cwind-down\u201d periods, depending on the business activity, and that failure to halt sanctioned activity by the end of the wind-down period would risk \u201csevere consequences.\u201d<\/p>\n

President Trump\u2019s NSPM indicates that \u201call\u201d of the sanctions waived or lifted under the JCPOA will be reimposed. These changes most likely will be implemented through new Executive Orders (EOs) from the president; termination of the periodic statutory sanctions waivers that have been issued by the Secretary of State; and changes to licenses, licensing policy, and the SDN list that will be made by OFAC. While there are numerous questions still outstanding about how the new sanctions may be implemented on a practical level, it is clear that the greatest impact of the reimposition of the sanctions will be on non-US entities, including non-US entities owned or controlled by US persons.<\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n

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Sanctions Subject to 90-Day Wind-Down<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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  • The purchase or acquisition of US dollar banknotes by the Government of Iran<\/li>\n
  • Iran\u2019s trade in gold or precious metals<\/li>\n
  • The direct or indirect sale, supply, or transfer to or from Iran of graphite, raw, or semi-finished metals such as aluminum and steel, coal, and software for integrating industrial processes<\/li>\n<\/ul>\n

    \u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

    Donald of Arabia, Oil Sanction Idiocy: Another Oil Shock Coming I did not believe Trump would be so foolish as to force the entire world to accept Iranian sanctions. I was wrong. Here’s my general policy: When you are wrong, it’s best to admit it or someone will admit it for you, in a worse […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[7844,1997,441,15721,14648,13390,588,1135,20712,2480,839,5453],"class_list":["post-35572","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-donald-trump","tag-economic-sanctions","tag-iran","tag-joe-mcmonigle","tag-michael-shedlock","tag-mishtalk","tag-oil","tag-oil-exports","tag-oil-sanctions","tag-oil-shock","tag-us-dollar","tag-us-treasury-department"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35572"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35572\/revisions"}],"predecessor-version":[{"id":35574,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35572\/revisions\/35574"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}