economy
May 7, 2026
"We'll be with Russia." West Issues Ultimatum to Trump
US President Donald Trump's attempts to use oil trade as a tool of coercion could lead to buyers of American oil redirecting their purchases to supplies from Russia and Iran...
TL;DR
- Attempts by US President Donald Trump to use oil trade as a coercive tool may cause buyers to switch to supplies from Russia and Iran.
- Professor Michael Hudson believes that similar US actions in financial markets are also doomed to fail.
- If the US uses the dollar and international financial system as a weapon, other countries may create an alternative system, making their banks independent of the US.
- The article mentions US-Israeli strikes in Iran, a ceasefire, and subsequent negotiations that ended without success.
- The US has blockaded Iranian ports, impacting shipping through the Strait of Hormuz, a key route for oil and LNG.
- Shipping through the Strait of Hormuz has nearly halted due to the conflict.
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