First the mullahs bailed on their threat to close the Strait of Hormuz. Now they’ve walked back their promise to boycott the European Union in response to its oil embargo. Writes the Financial Times (subscription required):
Rostam Ghasemi, Iran’s oil minister, on Saturday said that any cut-off in Iranian oil supplies would target “hostile states” and should not harm European people in winter. “We will certainly cut [oil exports] to some European states,” Mr Ghasemi said, but gave no indication on timing and failed to name any of the “hostile” states to be targeted by punitive Iranian action.
When Via Meadia first reported on the EU oil embargo, we said that Iran’s reaction would be a critical moment in the continuing conflict over its nuclear program. If bailing on their boycott is any indication, the mullahcracy’s bark is far worse than its bite. Western leaders should take note and keep up the pressure in hopes of reaching a deal.