|ZeroHedge: In what is likely a long overdue move, Iran has finally decided to give Europe a harsh lesson in game theory. Instead of letting Euro-area politicians score brownie points at its expense by threatening to halt imports and cut off the Iranian economy, the Iranian government will instead propose a bill calling for an immediate halt to oil deliveries to Europe. |
Has Iran dealt the EU a harsh lesson in game theory, or merely extricated itself from the consequences of its threat to close the Strait of Hormuz should Europe impose an embargo on the import of Iranian oil?
The European embargo was scheduled to go into effect in July. Closure of the Strait of Hormuz would have elicited the promised American military action to open the Strait. So by making meaningless any European embargo, Iran avoids the need to make good on its threat to blockade the Strait, and thus denies US/Israel the long hoped for pretext for a war that would likely have escalated to the use of nuclear weapons to destroy Iran's nuclear facilities.
Now US/Israel will need a different justification for nuking Iran to prevent Iran from obtaining nuclear weapons to deter US/Israel from nuking Iran.