The trump administration argued India buying Russian Oil is funding Ukraine war and demanded India to stop buying Oil. That is US, overlooking EU buying, but demanded another sovereign country to do what it said… Enter Iran war, US gave “permission” to India to buy Russian Oil, and when the irony was pointed out, it said anyone can buy “Russian Oil”…
Trump administration argued countries are using export controls, duties that are hurting US. There should be no “export control”… Voila, now the administration is considering “export control” of Crude, oil and export tariff and possible ban.
Already the tariff is declared not legal by SCOTUS and Malaysia is the first country to null and void the deal entered with US.
US western allies, in the past, have stood in solidarity with US irrespective of the nature of the war. Now EU allies are saying “NO” for Trump’s call for NATO to join the Iran war.
In a nutshell, the rolling crisis is adding up, and the administration not only going to incur heavy price for the military action, but going to do significant economic damage. Now, if god forbids, AI trade unwinds, there is a potential for decade long bear market. I am not saying we will have it, but there is a potential for it.
#BraceForTheImpact