|
Trending Topics
|
Source: http://www.chicagotribune.com/news/opinion/editorials/ct-edit-iran-20120124,0,2486993.story
Iran's Oil Shock
(Chicago Tribune) Editorial - The 27 nations of the EU dealt a huge oil shock to Iran. They agreed to ban Iranian oil to stop its rogue nuclear program. The EU embargo promises to be a massive economic blow to a country already staggering from tightening U.S. and European sanctions. Iran's currency has plummeted by half against the dollar since December. Inflation rages at more than 20% a month. President Obama needs to make economic sanctions stick - and sting. Iran has flimflammed the world for years now. The EU's oil embargo sends a powerful message to the mullahs: Nuclear aggression carries a painful price. The costs go up until Iran stands down.