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Showing posts from May, 2018

US Withdrawal From the Iran Deal Will Have An Economic Impact

By Genie Melamed This blog post was written for the course "Current Issues in Global and EU Affairs", which took place from February 12-April 30, 2018. In the past few years the issue of oil has been on the rise in the United States. Only a select few countries have oil, and many of those countries happen to be in the Middle East, where there has been a lot of conflict occurring in recent years. The United States has certain allied countries in the Middle East, and adversaries as well. This has caused quite an issue in the past few years due to the fact that oil comes from some of the adversarial countries. In 2012 the Barack Obama administration imposed oil sanctions on Iran due to Iran’s nuclear program. These sanctions were done in an effort to make Iran stop its nuclear program. In addition to these oil sanctions, there are also primary sanctions, which restrict US companies from doing business with Iran (Turak). The oil sanctions led to Iran’s oil exports decreas