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Politico EU

Politico EU

Newspaper | Belgium | Centre

European political journalism covering EU policy, elections, and politics.

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Discussions de Politico EU

Geopolitics

What are the possible benefits and risks of lifting oil sanctions on Iran for the U.S. and the world?

The White House is considering lifting sanctions on Iranian oil that's at sea to keep oil prices down, Treasury Secretary Scott Bessent said Thursday. Why it matters: The administration is pulling out all the stops — even easing up an economic threat to its enemy in war — to keep down oil prices. The latest: The price of Brent crude, the global benchmark, spiked 10% in just the past 24 hours, driving increasing worries among investors. Brent is now around $111 per barrel — nearly 60% higher than pre-war levels. Zoom in: "In the coming days, we may unsanction the Iranian oil that's on the water," Bessent told Fox Business Thursday morning. He said that would make up about 140 million barrels — about 10 days to two weeks of supply."In essence, we'd be using the Iranian barrels against the Iranians to keep the price down for the next 10 or 14 days, as we continue this campaign. So, we have lots of levers." The big picture: The White House has been able for the past few weeks to contain prices with various assurances and policies — promising tanker escorts through the critical Strait of Hormuz, waiving the Jones Act, and temporarily lifting sanctions on Russian oil. Zoom out Lifting sanctions on Iranian oil would be a remarkable next step — as it was something Iranians were asking for in negotiations last year. The White House referred Axios' questions about Iranian sanctions to the Treasury Department, which didn't immediately respond to a request for comment or more details. The bottom line: The administration appears to be conceding something in war that it was unwilling to give in peace, says Nicholas Mulder, a sanctions expert and professor at Cornell University. "The U.S. has to dial back sanctions to offset the second order effect of war," he says. "It speaks to the instability of the situation."

United States
Geopolitics

What are the possible effects of Iran's actions in the Gulf on international trade and regional safety?

DUBAI, March 23 (Reuters) - An attack on Iran's southern coast and islands will lead to Gulf routes being cut with the laying of sea mines, the country's Defence Council said on Monday according to state media. The U.S. is considering plans to occupy or blockade Iran's Kharg Island, the country's main oil export hub, to pressure Tehran to reopen the Strait of Hormuz to all shipping, according to Axios

Iran
Society

What steps can our community take to prevent hate crimes and support those affected by them?

March 23 (Reuters) - Four ambulances belonging to a Jewish community organisation in north London were set ablaze, police said on Monday, adding that the incident was being treated as an antisemitic hate crime. "An investigation has been launched after four ambulances belonging to the Jewish Community Ambulance service were set on fire in Golders Green," Metropolitan Police said in a statement. "Officers remain on scene and the arson attack is being treated as an antisemitic hate crime."

United Kingdom
Politics

What do you think are the important issues for voters as they decide on a new term for the Danish Prime Minister?

Danish PM Mette Frederiksen is seeking a third term as elections take place on March 24. She called the election in February - several months before she had to in apparent hopes that her resolute image in the crisis over Greenland would help her with voters. But the campaign was more aobut domestic issues than Denmark's relationship with Trump. FRANCE 24's Angela Diffley tells us more

Denmark