Two weeks
President Donald Trump has once again set a two-week timeframe to decide on a complex issue – this time on whether the U.S. should launch an attack on Iran. The deadline is aimed at pressuring Tehran to come to the negotiating table for a nuclear deal, as the escalating Israel-Iran conflict enters its second week.
Diplomacy first: “Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks,” Trump said in a message delivered by White House Press Secretary Karoline Leavitt. The deadline comes as Israel and Iran continue to exchange attacks by air, targeting military and nuclear sites, as well as civilian infrastructure.
British, French, German and EU foreign ministers will meet with their Iranian counterpart in Geneva on Friday to discuss the situation. “The president supports diplomatic efforts from our allies that could bring Iran closer to taking his deal,” a White House official said. While diplomatic efforts are ongoing, Trump weighing a potential strike on Iran has split his support base in the U.S., as many allies want to avoid a repeat of the 2003 invasion of Iraq.
Eye on oil: Iran is reportedly racing to get its oil out into the world, as satellite images show storage tanks at the Kharg Island export terminal are brimming with crude. At the same time, Iran has been driving up its crude exports. This likely means that Iran is directing more crude into the facility to ensure that it can send as much oil as possible to the global market. Meanwhile, energy and shipping industries are closely watching developments at the Strait of Hormuz. The waterway “is the artery through which the world’s energy flows, and if that artery is blocked, it’ll have a huge impact on global trade,” Shell (SHEL) CEO Wael Sawan warned.
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