New Sanctions Irk Tehran, Oil Sinks Below $28
Out with the old, in with the new. It’s been a whirlwind weekend, with Iran’s nuclear compliance leading to a lifting of financial sanctions, a prisoner swap and hints of détente followed by … new sanctions. Yesterday Obama announced measures against 11 entities alleged to have aided Iran’s ballistic missile program. Tehran says the sanctions have “no legal or moral legitimacy,” but it’s focusing on accessing nearly $100 billion in newly unlocked assets while planning to boost its export of crude, which is already driving oil prices even lower.