The recent ballistic missile attacks by Iran on Israel have raised concerns and demand a direct response. While the attack was unsuccessful, it signifies a dangerous escalation in Iran’s actions towards Israel. The Ayatollah’s desire to eliminate Israel from the region has been made clear through these attacks, which showcase Iran’s willingness to directly target Israel rather than supporting proxy groups like Hezbollah and Hamas.
Israel, as a sovereign nation under attack, must now decide how to respond. As the US contemplates its own response to impose consequences on Iran for the attack, tightening oil sanctions could be a critical step. With oil sales making up a substantial portion of Iran’s revenues, stricter enforcement of sanctions could limit Iran’s ability to fund future attacks.
Previous instances of effective oil sanctions enforcement have shown that it is possible to significantly impact Iranian oil revenues. The Biden Administration’s reluctance to enforce these sanctions more strictly may stem from concerns over global oil prices, but historical trends suggest that increased enforcement does not necessarily lead to price hikes. It is time for a firmer stance on Iranian oil sanctions to prevent further military aggression and protect regional stability.