Gas lines and quadrupling oil prices freaked out American consumers. But the oil crises also transformed global finance.
Category: Embargoes and Sanctions
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The Oil Shocks of the ’70s Changed the World. Will the Iran War Do the Same?
The New York Times – Business: -
Binance Under Fire After Reports That $1.7 Billion in Crypto Flowed to Iran
The New York Times – Business:The world’s largest crypto exchange is under fire after investigators found accounts moving $1.7 billion to Iranian entities. Clues about those accounts were in plain sight for over a year.
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Trump Draws Bipartisan Backlash for Easing Oil Sanctions on Russia and Iran
The New York Times – Business:Republicans and Democrats alike have criticized the Trump administration’s moves, taken to stabilize oil markets rocked by the war with Iran, warning that it is benefiting two U.S. adversaries.
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High Oil and Gas Prices Could Outlast Trump’s War With Iran
The New York Times – Business:While the president has promised rapid relief, Americans could feel the financial sting of the conflict for some time after it ends.
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Trump Faces Blowback on Easing Iran Oil Sanctions
The New York Times – Business:President Trump once assailed the Obama administration for making cash payments to Iran. Now he supports sanctions relief that could give the country a $14 billion windfall.
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U.S. Pauses Sanctions on Some Iranian Oil to Get More to Market
The New York Times – Business:Treasury Secretary Scott Bessent estimated that the move would add about 140 million barrels of crude to the oil market.
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How High Will Oil Climb? Markets Brace for More Bad News.
The New York Times – Business:Energy experts forecast more pain for consumers and businesses as the war in the Middle East shows no signs of easing.
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U.S. Encourages Flow of Iranian Oil While It Battles Iran
The New York Times – Business:Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.
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U.S. Encourages Flow of Iranian Oil While It Battles Iran
The New York Times – Business:Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.
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As War With Iran Hurts Oil Prices, U.S. Turns to Iranian Boats for Help
The New York Times – Business:Iranian-linked ships carrying Russian oil were among those that received temporary exemptions from sanctions, a sign of how dire the energy crisis is becoming.
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Trump’s Move to Seize Oil Tankers Costs the U.S. Tens of Millions of Dollars
The New York Times – Business:Although President Trump said seizing tankers would be a financial boon, the cost of maintaining just one aging ship has already reached $47 million.
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How This Oil Supply Shock Compares to the Embargo of 1973
The New York Times – Business:Governments have stockpiled oil, and cars are more efficient but the supply shock is global, and there’s no sense of when it’ll end.