Friday, May 11, 2018

Iran Sanctions Are Great for Nicolas Maduro

Bank of America Merrill Lynch is the first bank to say that Iran sanctions raise the risk of oil going back to $100/barrel. Not for the first time, poorly conceived U.S. policy in the Middle East gives a big boost to an adversarial government in Latin America. George W. Bush's invasion of Iraq was a godsend to Hugo Chávez, who built his entire economic policy on the skyrocketing price of oil that ensued.

It's no panacea for a government awash in corruption, debt, and mismanagement. But it can garner much needed resources (in euros or even in yuan maybe, I don't know) to at least stanch the immediate bleeding.


Alfredo 8:54 AM  

Capitalism at it's finest........

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