Pompeo: We Will Show Iran That Its Behavior Will Be Very Costly

Mike Pompeo, the U.S. Secretary of State, stated on Tuesday, July 9, that the goal of Washington and its allies in the Persian Gulf is to show Iran that the cost of its actions will be very high. He made these remarks during a brief visit to the United Arab Emirates. Last week, Iranian President Hassan Rouhani implicitly threatened that if the U.S. does not allow Iran to export oil, no country will be able to export oil from the Persian Gulf. Following Rouhani's threat, commanders of the Islamic Revolutionary Guard Corps also supported the President's statements, speaking about the IRGC's ability to close the Strait of Hormuz. In an interview with Sky News Arabia, Pompeo did not provide further details on the joint actions of the U.S. and its allies in the region regarding Iran. However, he stated, 'What we are focused on today more than anything else is... limiting Iran's financial capacity that is used to continue its bad behavior.' He added, 'Therefore, it is a wide range, a series of sanctions aimed not at the people of Iran but at a specific target to make the Iranian regime understand that its evil behavior is unacceptable and has very real costs for them.' Regarding Iran's threat to close the Strait of Hormuz, Pompeo said that Iran 'must know that the U.S. is committed to keeping sea routes open and continuing the flow of oil for the entire world.' Following the U.S. unilateral withdrawal from the multilateral JCPOA agreement and the re-imposition of extraterritorial sanctions against Iran, oil prices have been on the rise. Donald Trump has asked OPEC to increase its production, and Saudi Arabia, the UAE, and Kuwait have announced their readiness to increase their production. The rise in oil prices and subsequently gasoline prices in the U.S. could be a significant factor in the upcoming midterm elections. According to polls, there is a possibility that Republicans may lose their fragile majority in Congress. Currently, the price of a gallon of gasoline in the U.S. is $2.86, while it was $2.26 a year ago. On Tuesday, North Sea Brent crude was trading close to $80. In the continuation of his interview with Sky News Arabia, the U.S. Secretary of State spoke about the possibility of granting exemptions to buyers of Iranian oil while stating that the U.S. would not relent until Iran changes its behavior.