Considering the E.U.'s ban on 150 thousand barrels a day of oil coming from Syria, combined with unrecovered production drops in Libya, the E.U. will feel pressure from not buying Iranian oil. But will Iran feel any?
The sanctions take place in a climate of increasing tension and concern over U.S. military action, an option the Obama administration said remains on the table. The administration hopes the sanctions will cause enough economic pain to force Tehran to engage in diplomacy.
This time around the Iranians may well back off in the face of superior and more sophisticated firepower. But would they back off if their nuclear arsenal were in place, and would we be so sanguinely confident that they would desist or be ready to engage them in combat?