And just like that, they demand the oil bourse (and the Petro-Dollar) from Russia/Iran, to the USA/Saudi ...

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By Jeffrey Sonnenfeld and Steven Tian
October 23, 2023

Amid heightened fears of a wider conflict in the Middle East, our focus must turn to deterring and punishing terrorist aggressors in the region, led by Iran, instead of trying to appease the terrorists by making dangerous concessions. Oil represents the best leverage over Iran, even though it has been overlooked by media commentators, and strengthening sanctions on Iranian oil can help preserve peace.

We’d advocate pursuing the following tactics:

Step up lax enforcement and more severe public punishment of rampant sanctions evaders, including threatening to enforce secondary sanctions on Chinese buyers.

Engage China diplomatically to warn off the largest Chinese buyers of Iranian oil.

Create a cap price for Iranian oil. MIT Professor and former Treasury Assistant Secretary Catherine Wolfram has proposed imposing a price cap on Iranian oil, similar to the price cap on Russian oil. We would suggest an even lower cap price than the proposed $60 considering the breakeven production cost for Iranian oil is two times less than that of Russian oil, giving Iran a 75% profit margin at current prices.

Leverage geographic choke points; especially the Strait of Hormuz through which 90 percent of Iran’s oil exports pass.

Impose sanctions on the European sellers of ships contributing to Iran’s shadow fleet

Create additional sanctions on Iranian oil field service companies, as proposed by energy expert Craig Kennedy.

Much More:
https://time.com/6327378/israel-iran-oil-sanctions/