Tag Archives: economic war

I told Sky: Besides Trump’s economic war, the US Navy is eroding Iran’s Hormuz blockade. Oil flows rebound. Allies scramble to buy ships [EN,AR]

ENGLISH version. Sky News (UAE), 20 August 2026, Dr. Tom O’Donnell (in Berlin).

I told Sky (UAE), clearly the Hormuz is now “a game of chicken” … who can wait the longest and bear the most pain. I try to look objectively at the two sides.

a) On the Iran side, their oil exports are reportedly zero since about 15 July. None of their oil ships seem to have left Hormuz. A massive accumulation of Iranian oil cargo sits on ships towards Malaysia and Singapore, while perhaps 53 loaded ships are stuck in the Gulf due to the US Navy blockade. For a petrostate, this is devastating. In addition, all Iranian ports are blocked form exporting or importing anything. What oil can perhaps leave by train to China, say 70,000 barrels taking two weeks, is painfully small and costly. Trump had declared a big increase in blocking payments and financial transfers to and from Iran, but if no one is selling anything in either direction, there will be less and less financial flows to block. This is dire. It does not mean Iran will surrender, or even talk, but it is clearly devastating.

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On Al Jazeera with expert in Moscow | Putin wants a “compromise” for gas. Like what, Donbas? Odessa?- In my view, EU citizens will choose the cold … & their dignity.

English audio above. — Arabic video below

My fellow expert-guest, in Moscow, Dr. Stanislav Mitrakhovich, was notably frank.

He did not insist, as have various Russian Federation officials lately, that Nord Stream 1 gas flow has been cut for technical reasons to do with the lack of a Siemens compressor.

The compressor in question was sent to Canada for repairs, but its return has been waived from sanctions restrictions. As Chancellor Scholz rightly said, the lack of a compressor is clearly not what cutting gas to Europe is about. It is political.

Nor did the expert in Moscow claim it was due to bureaucratic German-Russian difficulties with paperwork, as Putin and others have claimed..

He instead pointed out that the EU has said it will stop by year’s end the import of Russian oil, and Germany has said it will not use Russian gas in two years, and, without this and some sort of “political compromise,” gas could undoubtedly be fully flowing again from Russian into the EU.

So, I asked – rhetorically – just what possible sort of “compromise” might Putin be angling for? The Donbas for gas? Odessa for gas?

I asserted my opinion that “Europeans have their sense of dignity” and would never agree to such a “compromise.” Put that way, they will prefer to be cold this winter and to have industries and businesses have to shut for lack of gas.

We also discussed a few details of what sort of suffering – rationing of energy, low temperature heating and closing of businesses – Germany and the EU can expect to have to endure this winter.

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