## Iran's Missile Strike and the Dilemma of Sanctions
Iran's recent missile and drone attack on Israel has sparked concerns about potential sanctions on its oil exports. However, analysts predict that the Biden administration will not impose significant sanctions due to concerns about rising oil prices and upsetting China, a major buyer of Iranian oil.
Following the attack, House Republican leaders criticized President Biden for not enforcing existing sanctions more aggressively. They plan to introduce bills to tighten sanctions on Iran.
how to respond to the attack without escalating tensions, increasing oil prices, or alienating China. Washington also aims to prevent the Gaza conflict from expanding into a broader regional war, which includes keeping Iran from becoming directly involved.
Despite mounting pressure to penalize Iran, some analysts doubt that the Biden administration will significantly increase sanctions on its oil exports. These exports are vital to Iran's economy, and the administration may be hesitant to impose strict measures, especially during an election year.
The potential impact on gasoline prices is another reason for Biden's hesitation. Former President Trump reinstated sanctions on Iran's oil in 2018 after withdrawing from the nuclear deal. The Biden administration has attempted to combat evasion of these measures by imposing sanctions on companies in China, the United Arab Emirates, and elsewhere. However, analysts say that Iran's oil exports are currently close to pre-sanctions levels.
The situation remains fluid, and it is unclear how the Biden administration will ultimately respond to Iran's attack. The administration must carefully balance its desire to hold Iran accountable with its concerns about oil prices, regional stability, and relations with China.