The 27 nations of the EU dealt a huge oil shock to Iran. They agreed to ban Iranian oil to stop its rogue nuclear program. The EU embargo promises to be a massive economic blow to a country already staggering from tightening U.S. and European sanctions. Iran’s currency has plummeted by half against the dollar since December. Inflation rages at more than 20% a month.
President Obama needs to make economic sanctions stick – and sting. Iran has flimflammed the world for years now. The EU’s oil embargo sends a powerful message to the mullahs: Nuclear aggression carries a painful price. The costs go up until Iran stands down.