Yevgeny Satanovsky, Eastern scholar:
- Secretary of State Pompeo has said repeatedly that Iranian oil exports would be reduced to zero. It's touching to watch them say it works perfectly. But it doesn't. In this case, it's no use to listen to Mr. Pompeo. We should listen to those who are involved with finances. I mean Mr. Mnuchin in this case. The plan to force Saudi Arabia to produce enough oil to cover the oil shortage because of Iran failed. Saudi Arabia has reached its technical limit. Excluding eight countries from the sanctions list for half a year means a total failure of the procedure suggested by President Trump. Now it's not about reducing Iranian oil exports to zero. All they can do is to reduce it by half. It's all about the removal of the USA's monopoly on the world financial system. To do so, Europe has developed on its own initiative and is finishing it off consulting with Russia and China, it will be started in November, a settlement mechanism with Iran through a variety of accounts. The US attempted to offer escrow accounts to India for example which would allow the US to control everything. There's nothing we can say about it.
Trump has unleashed a transition from the situation where the dollar is actually the only serious reserve currency and the US has a monopoly on international financial settlements to a situation where America is just one of the players. I don't think he really wanted it. All the rest doesn't matter. Because China, South Korea, Turkey, India, and Russia aren't going to play into the US's hands on Iran. Europe is a completely separate topic.
There will be small companies to trade with Iran to save the bigger ones. India is already using small companies. Fly-by-night companies. Iranian oil goes to market through Iraq. It's surprising where Iraq can get those 4 million barrels of oil. Everyone pretends they don't know what's going on. But they all know.
- Excuse me, I just want to add something. In order to understand how the West can control oil flows, it's enough to look at how much money ISIS managed to make on oil trade.
