Iran is panicking right now: Currency crunch and kicking it out of oil market

Everyone should be watching with interest because people are panicking on the ground in Iran. It's not the oil market prospects that has innocent civilians scared (at least not directly), but the rial is plunging and now the govt is trying to get things under control or all the capital is going to leave the country. But friends and relatives on the ground say it's getting really hard (legally) to find anywhere to exchange currency outside of the bank and no one wants the new fixed bank rates for the dollar. Speculators have been all over this. So the panic has set in all because everyone's afraid that Trump will renew sanctions on 12 May. The only way to staunch the flow was for the government to do this ... 

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maybe there won't be a sanctions renewal .. the EU today failed to agree on new sanctions for Iran. 

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US can still pull out of the nuke deal. I think the elephant in this room is what's about to happen to Iranian oil. Clearly the Saudis are trying to sideline Iranian oil and that's a huge focus on MBS' recent US trip. 

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MBS is using Trump to do this. Again, the US does the bidding of the Saudis. I can't believe Americans go for this puppet status. All these moves against Iran are at the request of the Saudis. What better way to get the oil prices everyone needs than to push Iran back out? Russians will be next. They're taking up too much Saudi market share (Asia). 

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If Trump does decide to go draconian ... the oil impact for Iran wouldn't be immediate, and a lot could happen between an announcement of renewed sanctions and that. The big deal here is targeting the banks of countries that don't cut their Iranian oil imports, and that part would take 180 days to officially impose. 

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7 minutes ago, Royalblood said:

MBS is using Trump to do this. Again, the US does the bidding of the Saudis. I can't believe Americans go for this puppet status. All these moves against Iran are at the request of the Saudis. What better way to get the oil prices everyone needs than to push Iran back out? Russians will be next. They're taking up too much Saudi market share (Asia). 

Why is Trump blasting OPEC then? If he's doing Saudi bidding .. is this just his way of pretending he's fighting it?

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