This is the editorial from the latest issue of Labour Briefing magazine
The US continues to ratchet up tensions against Iran, alleging it attacked oil tankers in the Gulf of Oman, while offering scant evidence in support. The tanker owner directly contradicted the Trump version of events and Japan and European countries reacted with deep scepticism. Iran denied responsibility, but the UK government parroted the White House line, a position Jeremy Corbyn correctly challenged. Meanwhile 1,000 more US troops have been dispatched to an already highly militarised region.
Behind these headlines, however, a more insidious process is at work. Crippling US sanctions with the declared intent of “bringing Iran’s oil exports to zero” are cutting off Iran’s principal source of revenue. These sanctions are also applied to third parties who trade with Iran. Similar sanctions on Venezuela will hit $9 billion of oil exports in 2019, plunging that country further…
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