More Iran Sanctions A Mixed Bag for Netanyahu
The Israeli prime minister may still have to defer his “mission accomplished” moment in Iran.
On Aug. 1, 2013, the US House of Representatives voted 400-20 for a measure that, according to Bloomberg News, would “subject more goods and services to sanctions, in addition to authorizing the president to impose penalties on foreign entities that maintain commercial ties with Iran.”
It must be noted that this in itself does not mean that the measure is law, since the US Senate also needs to vote on the measure. It's expected that the vote will take place after the summer recess in September. Then, the US president must give his approval.
Nevertheless, the measure in itself is good news for Israeli Prime Minister Benjamin Netanyahu, who wasted no time in welcoming it.
The good news for Netanyahu is that the latest measures could create panic inside Iran's halls of power. The existing sanctions have reduced Iran's oil exports by 60%. If the latest measure becomes law, it could bring Iran's oil exports to zero.
