Kudlow: We Pulled the Trigger Too Quickly on Iran MOU, Allowing Them to Sell 50–60 Million Barrels of Oil and Raise Significant Revenue

EXCERPT:

KUDLOW: "You know, Mike, the whole MOU, which I have defended even with its ambiguity, as Rebeccah pointed out and so forth, but it was performance-based pretty. You talk to White House sources and military sources, and they all said the same thing. They have to earn their money, the Iranians. Well, it just seemed to me we were really pulling that trigger too fast. We were letting them sell 50 or 60 million barrels, according to some of the oil traders I talk to. That raises a lot of money. Most of it was sold to China, as Rebeccah suggested, by  the by, but at least it gave Iran a lot of money. But for what? What performance have they done? I mean, it's very clear now they are breaking the entire MOU, and certainly the easiest and most straightforward, that being open up the Strait of Hormuz or freedom of navigation. So, I like performance-based, I like incentives a lot, but they did not do anything to earn the money."