Washington, D.C. – On November 4, the Trump administration is set to reimpose sanctions against Iran’s oil and gas industries that had been eased under the 2015 Iran nuclear agreement, possibly leading to a spike in gas prices. In response, Brian Katulis, a senior fellow at the Center for American Progress, issued the following statement:
President Donald Trump’s reckless Iran policy makes America less safe and takes unnecessary risks with America’s economic security. His administration’s reimposition of sanctions on Iran could push oil prices up even higher, a move that would hit working Americans directly in the wallet. And Trump is doing this as part of an unsound approach that could lead to more instability in the Middle East. The Trump administration is gambling with the world’s oil market and, if global production can’t fill the void, Americans could feel the direct effects of this move at the gas pump this winter. A more effective approach would have been to keep the Iran nuclear deal in place and work to counter Iran’s destabilizing actions in places like Iraq, Syria, and Yemen. Now we have the worst of both worlds—a policy that isolates America in the world and risks further Middle East conflict. Trump’s half-baked plan to outsource Iran policy through partners like Saudi Arabia is not a resilient strategy.
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For more information or to speak with an expert, contact Sam Hananel at [email protected] or 202.478.6327.