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Today’s summary of war lies is as follows.
- Iran oil sector official admits “serious threat” – telling NYT: “export of our oil and energy and the fate of our refineries is now at risk.”
- US Navy jet fires on Iran-flagged tanker trying to reach Iranian waters & port.
- Axios reports that the White House is nearing a preliminary deal with Iran to end the war, as Trump post appears to offer olive branch. Other reports say just hammering out at ‘framework’ for ‘monthlong’ talks.
- White House says it expects a response to the latest offer within 48 hours.
- Iran’s initial response via media & national security spox: US demands are unrealistic & do not reflect reality, & Axios report based on too much ‘speculation’.
- A key caveat of the US offered deal is that Iran would commit to a moratorium on uranium enrichment, & Washington wants a 20-year ban on this; Iran & China FMs coordinate messaging in Beijing, denying Iran’s intent to build nuclear bomb.
If the offer assumes freedom of navigation through the Strait, then it is fictional. Iran will never surrender that again.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.