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Currency Warfare: What are the Real Targets of the E.U. Oil Embargo against Iran?

by Mahdi Darius Nazemroaya,

Against whom is the European Union’s so-called “oil embargo on Iran” really aimed at?

This is an important geo-strategic question. Aside from rejecting the new E.U. measures against Iran as counter-productive, Tehran has warned the member states of the European Union that the E.U. oil embargo against Iran will hurt them and their economies far more than Iran.

Tehran has thus warned the leaders of the E.U. countries that the new sanctions are foolish and against their national and bloc interests. But is this correct? At the end of the day, who will benefit from the chain of events that are being set into motion?

Are Oil Embargos against Iran New?

Oil embargos against Iran are not new. In 1951, the Iranian government of Prime Minister Mohammed Mossadegh with the support of the Iranian Parliament nationalized the Iranian oil industry. As a result of Dr. Mossadegh’s nationalization program, the British militarily blockaded the territorial waters and national ports of Iran with the British Royal Navy and prevented Iran from exporting its oil. They also militarily prevented Iranian trade. London also froze Iranian assets and started a campaign to isolate Iran with sanctions. The government of Dr. Mossadegh was democratic and could not be vilified easily domestically by the British, so they began to portray Mossadegh as a pawn of the Soviet Union who would turn Iran into a communist country together with his Marxist political allies.

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2 comments to Currency Warfare: What are the Real Targets of the E.U. Oil Embargo against Iran?

  • brybo1971

    Speaking of the British Royal Navy, why would they send a super “armed to the teeth” as quoted by the BBC tonight, battleship to the Falklands. Surely not for the 30th anniversary of the conflict….not more of the black stuff out there too is there and i don’t mean Guinness.

    • The Old Man

      Potentially $Billions worth of oil off the coast of the Falklands / Malvinas. The British initially signaled they would negotiate joint exploration and extraction with Argentina, but to the best of my knowledge they never followed this up properly when the time came(no real surprise). I think the British are to start drilling on their own in the next year or two.

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