British special forces have stopped and searched a supertanker that is suspected to be carrying Iranian crude oil that is destined for Iraq. This has triggered a diplomatic row between London and Tehran – one that could escalate the current tensions between the US and Iran. The US has imposed crippling sanctions on the Islamic Republic, with these punitive measures severely impacting the Iran economy by impeding its ability to export oil. Now Iran is fighting back by saying that since the capture of the Grace 1, it views the UK doing the Trump White House bidding and it will now retaliate.
Iran now says that if the UK, France and Germany did not provide economic relief to the republic in 60 days, it will increase nuclear activity.
Our View: We would think that Iran has now taking the path of nuclear development that is out in the open. This is not something that we would support as it will only encourage Iran (Shia) to provoke Saudi Arabia, Kuwait and other countries in the area, who are Sunni, to build their own nuclear arsenals. I Middle East nuclear arms race will end in war if there is now control taken now. More on this topic in the coming weeks.