![](\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/sites\/2\/2011\/01\/gasiranresized1.jpg\" "\\"gasiranresized1\\"")
NCRI – \u201cThe Iranian energy industry is now in a slow-motion death spiral\u201d and to accelerate its demise, the Obama administration should adopt further punitive measures pertaining to it, a commentary published in the Wall Street Journal said on Monday.<\/p>\n
Mark Dubowitz, the executive director of the Foundation for Defense of Democracies and head of the foundation\u2019s Iran Energy Project, said in the opinion piece that, \u201cThe Reserve Bank of India has opened up a major new front in the global effort to tighten the economic screws on Tehran\u201d and \u201cblocked domestic buyers of Iranian oil from making payments through the Asian Clearing Union.\u201d<\/p>\n
He added, \u201cWhile oil sales to India can still clear through commercial banks, they will be more transparent, subjecting them to scrutiny under financial sanctions laws enacted by the U.S., the European Union and a range of Asian countries. And many international banks will not get involved at all, given the potential penalties.\u201d
\u201cThis has Tehran worried: Crude oil sales are the lifeblood of the regime’s power, constituting 80 percent of Iran’s export earnings and 24 percent of its GDP. Tehran has reacted angrily.\u201d<\/p>\n
\u201cThe Iranian energy industry is now in a slow-motion death spiral. To accelerate its demise, the Obama administration should take a number of other steps,\u201d including greatly intensifying the “hassle factor” in buying Iranian crude, the\u00a0 commentary suggested.<\/p>\n
Mr. Dubowitz added, \u201cIranian crude oil sanctions are the next logical step-especially after the U.S., EU, Japan, South Korea, Australia, and Canada have targeted energy investment in, and technology transfer to, the Iranian energy industry, and Washington has cracked down on Iran’s refined petroleum imports.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
NCRI – “The Iranian energy industry is now in a slow-motion death spiral” and to accelerate its demise, the Obama administration should adopt further punitive measures pertaining to it, a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[175],"class_list":["post-9621","post","type-post","status-publish","format-standard","category-iran-a-world","tag-updated"],"yoast_head":"\n