Iran’s continuing development of their nuclear program is still stirring much controversy throughout the international stage.
Obama and Congress have just passed some serve economic sanctions against Iran that will literally put more pressure on them to change then any previous actions taken. Starting on June 28th the US will no longer be purchasing oil from Iran. Obama and his advisors say that there is enough in reserves, and we can purchase the oil elsewhere, to be able to continue these sanctions until Iran breaks down.
It’s not just the US either, many European countries are also holding up their end of the deal and not purchasing oil as well. The US has also threatened sanctions against any countries that continue to support the Iranian economy, including allied countries such as South Korea and Turkey.
With rising gas prices there is an overall fear that this could cause more spikes. The administration as announced that it is still to early to tell exactly how these sanctions will effect what you pay at the pump, but recent economic reports from the administration assure that there will be little to no increase.
Again these sanctions are to force Iran to stop the nuclear development program. The US and allies say they are pursing a nuclear weapon; Iran denies this.
Hopefully Iran breaks down the nuclear program soon. For one, I do think after awhile not buying their oil will effect gas prices. I think at this point we are just putting up a strong front, and keeping the masses calm. Also sooner or later Israel is just going to use military force to destroy their developments. I war between Iran and Israel would be devastating throughout the world. Make sure to keep a close eye on this situation in the near future.