Some good news this morning: India has signaled that it will continue to purchase Iranian crude oil after the U.S. imposes sanctions on November 4. Oil Minister Dharmendra Pradhan said Monday that India was exploring an alternate payment system, one that would bypass dollars and use rupees instead.
Trump's outlaw push to reimpose sanctions that were in place prior to the JCPOA looks to be stillborn. The reason that Obama ending up signing the P5+1 nuclear agreement with Iran wasn't due to any pacific tendencies on the part of his administration; it's because the UN-endorsed sanctions were falling apart.
Trump's bullying can't magically reanimate sanctions that were sieve-like to begin with.
The bad news, having finished Going to Tehran yesterday, is that the U.S. has always been gunning for regime change. Sanctions were merely a means to that end. If Trump's crude oil sanctions are a flop, I have little doubt he'll move quickly to a military option.
Regardless of the results of the midterms, Trump's devil's workshop will be busy through the lame duck session.
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