Macro Macchiato 29/04/19: Forget the Ides of March, What about the First of May?
I received several calls on Friday and over the weekend asking for my view on the US announcement that it intends to stand by its decision not to renew the eight-country waiver on sanctions for buying Iranian oil. Flattered as I am by these calls, my guess is as good as yours as to how the US will police the sanctions and whether any of the waiver nations will take any notice. But it’s worthwhile thinking through the situation. First of all, what are the US motivations for re