It's all so Michigan, amirite?
The U.S. Senate seat from Michigan is beside the point. It's merely a stepping stone.
He's running for president, on the Obama model, but with a higher purpose in mind.
It's a Jihad to remove America as Israel's protector.
Or is the reasoning, which clearly isn't Trump's, that the four new deaths belong to Iran War II, not Iran War I?
Pentagon lowers official Iran war death toll, omitting four killed this month
... Three military officials told the Times that the four service members killed this past weekend — three in Jordan and one in northern Iraq — were struck from the list because their deaths came after President Donald Trump declared a ceasefire in April. All of the deaths listed on Thursday U.S. time on the website, which said it was updated as of Wednesday, occurred in March. ... Trump himself has used the higher figure for the death toll. At an event on Thursday, he said, “I had a very sad day yesterday. I went to Dover, four great American patriots killed. That’s 18 … and one is too many, but it’s 18.”
Trump sends Congress formal notice that Iran conflict has resumed
WASHINGTON, July 13 (Reuters) - U.S. President Donald Trump has sent Congress formal notification that hostilities against Iran resumed on July 7, a letter his administration sees as opening a new 60-day window to use the military in the region without congressional approval. ...
From JMIC Update 074:
... According to regional reporting, Iran has instructed the Houthis to stand ready to close the Red Sea oil route should the United States strike Iranian power infrastructure. Sources close to the group stated that the Houthis have completed preparations to attack shipping, including the deployment of missiles and drones positioned near Bab el-Mandeb. ...
Saudis Reach Deal With U.S. That Could Let Them Enrich Nuclear Fuel
... Prince Mohammed has vowed he would build nuclear weapons if Iran does so, even insisting in one interview he would do so “without a doubt.”
... Mr. Trump’s concessions to the Saudis on the terms of the nuclear deal are significant. When the United States entered into a similar agreement with the United Arab Emirates, which went into force in 2009, there were far more restrictive conditions. The U.A.E. agreed to the stringent inspections, signing what is called an “additional protocol” with the International Atomic Energy Agency. And it agreed to forgo the right to produce its own fuel, cutting off the possibility that it would have the infrastructure to produce a weapon.
That agreement became known as the “gold standard” for nuclear nonproliferation. And while the administration plans to argue that it will have other restrictions in place — including joint partnerships with the Saudis that will allow Washington to keep a close eye on the kingdom’s program — the fact remains that Mr. Trump has retreated from the restrictions negotiated by the Bush and Obama administrations.
While the bulk of the negotiations with the U.A.E. took place while President George W. Bush was in office, it was finished by President Barack Obama and went into effect in 2009. ...
A 20% charge on a fully loaded VLCC is $30 million. Iran is widely believed to be charging less than 2%.
Trump is a buffoon.
Global shipping industry sounds the alarm over Trump’s Hormuz toll plan
... Shipping giant Hapag-Lloyd has said it is “fundamentally wrong” to charge tolls for passage through international waters, regardless of the country in charge.
“Tolls for infrastructure such as the Suez Canal or Panama Canal are different, because they reflect major infrastructure investments,” the firm said in a statement. “That is not the case in the Strait of Hormuz.” ...
Brent oil jumps more than 9%, biggest daily gain since 2020, after Trump reinstates Iran blockade
... Brent crude futures advanced 9.6% to close at $83.30 per barrel. It was the international benchmark’s best daily performance since May 2020. West Texas Intermediate futures gained 9.4% to settle at $78.14. ...
UN maritime agency opposes Hormuz transit fees after Trump demands protection money
The International Maritime Organization, a United Nations agency, said Monday that it opposes transit fees in the Strait of Hormuz after President Donald Trump demanded that ships pay protection money.
“We have always been consistent on our stance on fees – IMO stands firmly against charging fees for passage through straits used for international navigation,” a spokesperson said.
“There is no legal basis through which to introduce mandatory tolls simply to transit through a strait,” the spokesperson said.
... Tolls to transit Hormuz are against international law, said James Kraska, an expert on international maritime law at the U.S. Naval War College. The world has an unimpeded right to transit Hormuz, Kraska said. ...
The tyrant is the real slave. He is mastered by a whole host of conflicting desires, none of which he is therefore able to in any way satisfy.
Trump proposes 20% toll on cargo through Strait of Hormuz; restarts Iran blockade
President Donald Trump on Monday said the U.S. will impose fees in the Strait of Hormuz “at the rate of 20% on all cargo shipped,” after declaring America’s role as the “guardian” of the major oil-shipping route. ... Trump’s post asserts that commercial vessels attempting the transit must now pay protection money to the U.S. ...
“The U.S.A. will be, from this point forward, known as ‘THE GUARDIAN OF THE HORMUZ STRAIT,’” he claimed. “But as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World.”
“The process and formation will begin immediately,” he added. ...
His brain is a bucket of eels.
Trump renews Greenland threats at NATO summit, says U.S. could remove troops from Europe
Oil prices rise more than 2% after attacks on tankers in Strait of Hormuz
UKMTO is reporting that three attacks were reported, not four.
... Aristidis Alafouzos, CEO of Okeanis Eco Tankers Corp, a crude oil shipping company headquartered in Greece, said he doesn’t expect Thursday’s attack on a ship in the Gulf of Oman to “significantly change” the trend of transits through the waterway.
“We’ve seen a large increase, especially on the crude oil passages, and I think this is set to continue and maybe this one-off event isn’t enough to really disrupt the recent events of the large exports of Kuwaiti and Emirati crude oil from the Gulf,” Alafouzos told CNBC’s “Squawk Box Europe” on Friday.
“The one big missing factor is the Saudis. For now, we haven’t seen them export almost anything from inside the Arabian Gulf and everything is coming from Yanbu in the Red Sea.” ...
U.S. issues sweeping Iran oil sanctions waivers, unlocking billions in revenue for Tehran
The U.S. has issued a sweeping rollback of sanctions on Iranian oil, allowing dollar-denominated trade for the first time in more than four decades ...
The U.S. Treasury on Monday issued a wide-ranging 60-day exemption allowing Iran to produce and sell crude oil, petrochemical and petroleum products in U.S. dollars through Aug. 21. ...
The move on Monday marks the most sweeping rollback of American oil sanctions against Iran since the 1979 Islamic Revolution, reversing years of pressure designed to cripple Iran’s economy, and is expected to deliver billions in oil revenue for the Iranian regime. ...
U.S. President Donald Trump defended the lifting of the sanctions, saying on Monday that any oil profits were meant for Iran to purchase American agricultural goods, rather than rebuild its military. ...
“With dollar clearing now authorized, expect China to accelerate purchases aggressively,” said Maleki. Chinese buyers, in the past, have settled transactions through opaque channels to avoid secondary U.S. sanctions exposure. ...
He expects a rapid storage “top-off cycle” under which Chinese buyers could rush to replenish stockpiles before the exemption expires in August.
China currently purchases roughly 90% of Iran’s oil exports, with teapots accounting for the bulk of China’s imports. The country’s crude imports shrank by an unprecedented 4.8 million barrels per day (mbd) between February and May — a steeper drop than the 4 mbd decline seen during the depths of the pandemic in the second half of 2020, according to JPMorgan. ...
Iran will likely use this 60-day window to repair war-damaged oil facilities and lock in longer-term contracts with Chinese buyers, said Michael Feller, chief strategist at Geopolitical Strategy. “This will be a huge boost to Iran, both to its economy and its sense of victory.”
The max was 6k bpd in 2021 of petroleum and petroleum liquids, the equivalent of 2.2 million barrels, slightly more than one VLCC can carry.
What's next, imports from Russia?
Treasury Department authorizes Iranian oil sales through August
... The authorization allows the import of Iranian oil and refined products into the U.S.
... The authorization allows the import of Iranian oil and refined products into the U.S. Payment can be made to Tehran in dollars. The license expires Aug. 21, unless it’s renewed. ...
Oil prices fall after U.S. authorizes Iranian crude sales
Trump actually started the ball rolling during the pandemic in 2020.
He bought some petroleum products from Iran in October 2020 after the collapse in oil demand crashed prices of WTI to -$37/barrel in April.
Biden made purchases in March 2021, January 2022, and in 2023 from August to October.
