Iranian President Ahmadinejad visited his dear friend, Hugo Chavez, this week as his regime undertook another series of provocations. The Islamist and radical Marxist embraced, joined together by their ideologies’ common hostility to America. As Iran announces that it is enriching uranium at an underground facility designed for nuclear weapons production, it knows that Islamists aren’t its only allies.
Iran has been acting exceptionally aggressive lately, probably with the objective of causing oil prices to spike to counter the impact of international sanctions. President Obama approved sanctions on Iran’s Central Bank, resulting in a 20%drop in the value of the rial against the dollar. It appears that the European Union, which buys 17% of Iran’s oil exports, will agree to an oil embargo on January 23 when its foreign ministers gather in Brussels. Japan is also preparing for an embargo. Saudi Arabia and the United Arab Emirates, enemies of Iran, are being asked to help by increasing their exports.
Iran started 2012 off loudly. It threatened to shut down the Strait of Hormuz if an oil embargo is enacted, carrying out a 10-day war game to prove its ability to make good on its threats. Iran announced that it produced and successfully tested its first domestically-produced nuclear fuel rod and then tested a new medium-range surface-to-air missile. Read the rest on:
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