The EU's Iranian oil spill

The prospect of an EU-imposed oil embargo against Iran is not likely to threaten the country's nuclear ambitions, but would merely draw it closer to China.

Last week the European Union indicated that it is likely to enact an oil embargo on Iran. The move is aimed at damaging Iran’s crucial oil export business enough so the country’s regime curtails its nuclear ambitions, but not enough to cause oil prices to spike. The recent EU policy shift moves the bloc in line with the US long-standing hardline approach to Iran.

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