Do not pass go, do not collect 200$ says the U.S to Iran!

Today I thought will be just like any other day with a lot of steam from the United states and all of it directed against Iran. But today was different in the sense that action followed words , thereby leading to tougher economic sanctions against Iran. These sanctions are economic in nature and do not construe any act of force by anyone. Instead what the United states has done is to economically blackmail Iran by effectively shutting out 50% of its banks out of the international banking arena.

The banks in question or should I say under the scanner are State-owned banks Bank Melli, Bank Mellat and Bank Saderat which along with the Bank Sepah take care of more than 50% of Iran's banking requirements. Furthermore these sanctions have also put on notice any company that is either currently having financial transactions with Iran or are planning to do so. In short, trade with Iran will turn out to be a costly affair that no country would want. One does wonder what will the Russians, the Chinese and the Indians make of these new economic sanctions since all the three combined have huge business interest in Iran and as such have also invested millions of Dollars into many projects there like the Iran-Pakistan-India oil pipeline to say the least. Are these projects doomed, can Iran overcome this Economic blackmail? Visit again for episode 2 in the Iran contra Iran affair- the title speaks for itself!

economy,sanctions,money,trade,iran,united states

Oil aiming for the 100$ mark?

Oil these days seem to be much more costly than they were just a few months back and all of the blame cannot be just laid at the door of the 'War on terrorism'.as things stand the OPEC could have done so much more to stabilise the prices of the oil by increasing demand but they have not yet done that,at least not enough by any standards.Oil,the black gold that is so essential to all of us in one way or the other,costs an arm and a leg these days.
The rising value of oil is causing havoc on all of the world economies including that of the United states.and since most of the world currencies are pegged to the U.S dollar and since moist of their central banks hold their reserve in Dollars,the impact of these oil prices will be worldwide.as it is,we have just had the liquidity crunch and on top of this,the oil surge? we surely do not need news like this.when will the oil go down,or rather the question should be,will it ever go down??since the rising oil prices has such a worldwide impact,if the OPEC cannot control the price surge,then the United nations or rather the security council should take over the OPEC.the OPEC has a responsibility here which they are failing by a large milestone since the oil has already surged to 90$ a barrel.if they cannot control the prices any further then the United nations should step in along with a monetary agency to regulate the flow of oil in a way that does not entail any further price hike in it!

oil,united states,economy,opec,libya,