Photo: Nickolay Soychinov / AFP
Giving the ongoing conflict over Iran’s (alleged) nuclear program, it’s looking more and more likely that Iran will soon face European-wide sanctions (in addition to country-specific sanctions such as those imposed by the UK last week).Over at the WSJ, Konstantin Rozhnov And Sarah Kent point out that while the sanctions would hurt Iran, the real winner would be Russia.
Yes, an unavoidable consequence of sanctioning one of the world’s biggest suppliers of crude oil will be the rising price of oil, helping producers such as Russia despite sluggish growth.
And given Russia’s considerable power over the region through its natural gas supply, you can bet European leaders are not too happy about this development.
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