The recent unprecedented missile and drone strike by Iran on Israel has raised questions about the potential response from the Biden administration. However, analysts suggest that such a move is unlikely due to concerns over oil prices and China, Iran’s top oil buyer.
The attack on Israel was a response to Israel’s alleged April 1 strike on the Iranian consulate in Damascus, which resulted in the death of a senior Iranian military officer.
House Republican Leaders Call for Stronger Sanctions
Republican leaders in the House have declared that they will submit several proposals this week to tighten sanctions against Iran and have accused President Joe Biden of failing to implement current restrictions.
The No. 2 House Republican, Representative Steve Scalise, voiced concerns about Iran’s capacity to sell its oil, which is a substantial source of income for the nation.
Steve Scalise, claimed in an interview with Fox News on Sunday, April 14 that the government had made it simpler for Iran to sell its oil, resulting in money that was being utilized to “go fund terrorist activity.”
“Even if these bills pass, it’s hard to see the Biden administration going into overdrive, to try to spring into action or enforce existing sanctions or new ones to try to cut or curb (Iranian oil exports) in any meaningful way,” the CEO of Rapidan Energy Group and a former CIA officer, Scott Modell was quoted by Reuters.
Concerns over Oil Prices and China
However, due to the possibility of a sharp spike in oil prices, the Biden administration has been hesitant to take any action that would interrupt Iran’s oil supply, reported Reuters. When Iran removes its ballistic missiles from storage and places them, the United States and its regional allies can readily monitor them.
According to report, any Israeli retaliation, particularly if it targets Iran’s oil facilities, will have a significant impact on the energy markets. Tougher sanctions enforcement against Iranian oil shipments by the US could raise oil prices but would risk higher inflation and pump prices for US motorists in an election year.
China is another significant factor in the Biden administration’s decision-making process. China is Iran’s top oil buyer, and any action taken against Iran’s oil exports could lead to a significant disruption in China’s energy supply. The US and China have been engaged in a trade war, and any further escalation could have significant consequences for both countries.
International pressure for restraint on US, Israel over escalation with Iran
As international pressure for restraint grows amid fears of an escalation of the conflict in the Middle East, the Biden administration is likely to tread carefully. The US and its partners in the region are stressing regional stability to prevent conflict from spreading.
During phone discussions with counterparts in the Middle East and Europe, the defense secretary at the Pentagon emphasized regional stability while reaffirming support for Israel following Iranian strikes.
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