Michael Allen: The Blockade Could Become Further Potent By Making Sure Chinese Banks and Oil Refineries Don’t Take Iran’s Crude Oil

EXCERPT:

ALLEN: "I do think it will have a great effect. First of all, we have a terrific quarantine or blockade, if you will, on the Straits of Hormuz. We wish it were open, we wish it would go back to the way it was before the war, but as long as the Iranians are trying to dominate how many non-Iranian oil and gas commercial vessels get through this international passageway, we are going the continue to hold back any Iranian crude oil also seeking to get through. And that eventually — and it’s already having a great effect — will gut the oil revenue for Iran, one of its chief pieces of revenue it gets to keep the regime going. And so this could become further potent against the regime as we try and ensure that Chinese banks and Chinese oil refineries don’t take whatever Iranian crude can make it through. That will be extra devastating for the Iranians. So I’m glad that we’re playing these cards."