President Donald Trump’s aversion towards Iran’s rulers has been obvious since his announcement for running for the office of US president. His confrontational policy has culminated in the unilateral withdrawal of the United States from the JCPOA, the Iran Nuclear Deal. In order to increase pressure on the already ailing Iranian economy, it is adamant for Washington to cut off oil exports and thus reduce the financial power of Tehran. However, this policy could backfire as oil prices are already rising and the Middle Eastern country is a major producer and exporter. Currently, Iran is the third largest oil producer within OPEC after Saudi Arabia and Iraq with a production of 4 million barrels/day and an export of 2,1 million. Oil revenues have kept the country afloat while confronting a global sanctions regime and hostile U.S. policy across the region. Since the signing of the historical Nuclear Deal and […]