US Likely to Avoid Meaningful Oil Sanctions on Iran: WAPO

Although the US may bring additional measures against Iran in retaliation for its attack on Israel, meaningful action is unlikely as it risks antagonising China, the Washington Post said.

• “There are not a lot of options that are game changers, because so much of Iran is already sanctioned,” said Rachel Ziemba, adjunct senior fellow at the Center for a New American Security, a foreign policy think tank.
• “But if you really want to cut off oil revenue for Iran, you have to go through China and Chinese institutions.” Ziemba added.
• “The last thing Biden wants is higher gas prices, so he wants Iran selling its oil to China. He does not want that oil to be shut in. It’s as simple as that; he can’t afford to sanction Iran’s oil,” Bob McNally, president of the Rapidan Energy Group said. “They could do some symbolic stuff, to go after a little trader here or there, but that’s likely about it.”