President Trump issued an executive order on Wednesday announcing new sanctions targeting Iran's steel, aluminum, copper and iron sectors, which provide foreign currency earnings for the Islamic Republic's crippled economy, as tensions escalate between Washington and Tehran. Earlier Wednesday, Iran threatened to enrich its uranium stockpile closer to weapons-grade levels in 60 days if world powers fail to negotiate new terms of the 2015 nuclear deal.
The U.S. has designated Iran’s Islamic Revolutionary Guard as a foreign terrorist organization.
The USS Abraham Lincoln nuclear carrier with 9 supporting war ships was deployed off the Syrian coast.
U.S. bases and facilities in the Middle East have been placed on HIGH ALERT. They include 30 bases in Iraq with 5,500 military personnel and the facilities in Syria where 2,200 troops are deployed.
Also on HIGH ALERT are U.S. air defense systems across the region that guard against Iranian missile or UAV attacks.
CENTCOM has deployed F-35A Lighting IIs bombers to the Al Dhafar Air Base in UAE. This is the first deployment of the 5th generation multi-role aircraft in the Persian Gulf.
Israel has upgrade all of their air defense systems to “War Preparedness”.
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MY TAKE: War between the U.S. and Iran will take oil to $100/bbl.
Iran: Update on sanctions May 8
Iran: Update on sanctions May 8
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group