When Mark Dubowitz, executive director of the Foundation for Defense of Democracies, which is closely aligned with Netanyahu's Likud Party, pushed the idea of sanctions against any financial institution that did business with Iran's Central Bank, the aim was to make it impossible for countries that import Iranian crude to continue to be able to make payments for the oil.
Dubowitz wanted virtually every country importing Iranian crude except China and India to cut off their imports. He argued that reducing the number of buyers to mainly China and India would not result in a rise in the price of oil, because Iran would have to offer discounted prices to the remaining buyers.
Global oil analysts warned, however, that such a sanctions regime could not avoid creating a spike in oil prices.
But Netanyahu used the power of the American Israel Public Affairs Committee (AIPAC) over Congressional action related to Israel to override Obama's opposition. The Senate unanimously passed an amendment representing Netanyahu's position on sanctions focused on Iran's oil sector and the Central Bank, despite a letter from Secretary of Treasury Tim Geithner opposing it. A similar amendment was passed by the House Dec. 15.
The Obama administration acquiesced and entered into negotiations with its European allies, Saudi Arabia and the UAE on reducing imports of Iranian crude oil while trying to fill the gaps with other sources. But a number of countries, including Japan and Korea, are begging off, and the EU is insisting on protecting Greece and other vulnerable economies.
In an interview with CNN in November, Barak warned the international community that Israel might have to make a decision on war within as little as six months, because Iran's efforts to "disperse and fortify" its nuclear facilities would soon render a strike against facilities ineffective.
Barak said he "couldn't predict" whether that point would be reached in "two quarters or three quarters or a year." The new Israeli "red line" would place the timing of an Israeli decision on whether to strike Iran right in the middle of the U.S. presidential election campaign.
Netanyahu, who makes no secret of his dislike and distrust of Obama, may hope to put Obama under maximum pressure to support Israel militarily in a war with Iran by striking during a campaign in which the Republican candidate would be accusing him of being soft on the Iranian nuclear threat.
If the Republican candidate is in a strong position to win the election, on the other hand, Netanyahu would want to wait for a new administration aligned with his belligerent posture toward Iran.
Meanwhile, the end of U.S. Air Force control over Iraqi airspace with the final U.S. military withdrawal from Iraq has eliminated what had long been regarded as a significant deterrent to Israeli attack on Iran using the shortest route.
Cross-posted from IPS News.
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