Friday March 18, 2018

I've Been Thinking:

New US sanctions against Iran are already having an impact.

On Thursday the largest international shipping container company in the world, A.P. Moller-Maersk, closed all operations in Iran. Maersk is so large that one cannot drive on a highway without seeing dozens of the containers rolling along on eighteen wheelers on the way to their destinations.

The day before that, on Wednesday, Total Energy shut their shop in Iran. Total Energy is one of the largest energy companies in the world, specifically for oil and gas. They employ over 100,000 people.

These are only two of the many companies that now feel the pressure of US sanctions to abandon Iran.

The sanctions mean that if companies continue doing business with Iran they will not be able to engage in any US economic banking activity.

That could destroy any company.

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