WEBVTT - Economic D-Day Pushes Iran to the Brink

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<v Speaker 1>Yes, they facilitate transactions and are part of the ecosystem

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<v Speaker 1>that turns Iranian oil into money into repression. They will

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<v Speaker 1>be targeted. We are level setting with every country to

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<v Speaker 1>tell them our expectations. We know who they are, They

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<v Speaker 1>know who they are, so when the hammer of US

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<v Speaker 1>Treasury actions falls upon them, they will have no one

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<v Speaker 1>to blame but themselves.

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<v Speaker 2>If you're listening to the forty seven Morning Update with

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<v Speaker 2>Ben ferguson.

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<v Speaker 3>Good Tuesday morning, nice have you with us in the

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<v Speaker 3>forty seven Morning Update, And we've got big news coming

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<v Speaker 3>out of Iran economic disaster as President Trump has announced

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<v Speaker 3>the economic d day against Iran and it's the most

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<v Speaker 3>crushing economic operation ever taken. So what is happening in

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<v Speaker 3>Iran right now and where the new threats coming from Iran?

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<v Speaker 3>At the President we break it all down for you

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<v Speaker 3>as there's a very good chance that Iran is just

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<v Speaker 3>about to crumble. Before we get to that, though, I

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<v Speaker 3>want to talk to you about how you can make

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<v Speaker 3>going to pay. It is your cell phone bill. We

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<v Speaker 3>finally have a president and administration that's fighting hard for

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<v Speaker 3>America first. But if we lose focus right now as conservatives,

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<v Speaker 3>the same people that created this mess, well, they're waiting

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<v Speaker 3>to resume their destructive progressive chaos. And protecting this momentum

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<v Speaker 3>takes more than just votes, takes all of us staying

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<v Speaker 3>switch today. It's a forty seven morning update and it

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<v Speaker 3>starts right now.

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<v Speaker 2>Story number one.

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<v Speaker 3>A RAND supreme leader is under mounting pressure at this

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<v Speaker 3>hour over the war, as the regime's grip on the

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<v Speaker 3>Straight of Hormuz has weakened and cash is finally starting

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<v Speaker 3>to get tight, and the top political leaders are publicly

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<v Speaker 3>urging the Islamis in charge to find a way out

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<v Speaker 3>of the conflict. That is how dire the situation has

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<v Speaker 3>become in Iran, and they cannot fake it any longer now.

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<v Speaker 3>The latest phase of the conflict has seen more and

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<v Speaker 3>more ships quietly slipping through the Strait of Hormuz, with

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<v Speaker 3>nearly two hundred vessels sailing through the straight last week alone.

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<v Speaker 3>That is coming from data from the UK Maritime Trade

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<v Speaker 3>Operation Center. That is a massive number of ships compared

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<v Speaker 3>to what we've been seeing over the last several months.

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<v Speaker 2>Now.

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<v Speaker 3>To put in perspective for you, the flow represents a

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<v Speaker 3>four hundred percent spike in the last two weeks, with

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<v Speaker 3>maritime analysts noting that the traffic finding safe passage that

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<v Speaker 3>has been aided by US Navy escorts effectively means Iran

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<v Speaker 3>has lost partial control of the strait, and while more

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<v Speaker 3>ships and oil are getting out, Iran's own oil exports

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<v Speaker 3>have dropped to new or zero under the renewed American

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<v Speaker 3>blockade on its ports and President Trump's economic D Day measures,

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<v Speaker 3>as he described them. I'm going to have more on

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<v Speaker 3>those D Day measures in a moment, but before we

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<v Speaker 3>get to that, I also want you to hear what

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<v Speaker 3>the President had to say in the Oval Office when

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<v Speaker 3>he was being asked questions about what he could still

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<v Speaker 3>do with dealing with Iran researcher.

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<v Speaker 1>He says that we could see the most impactful sanctions

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<v Speaker 1>on Iran this week. When will they come and what

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<v Speaker 1>else could be sanctioned on Ran?

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<v Speaker 4>Well, we have things that we could sanction. We have

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<v Speaker 4>very draconian sanctions, and we'll see what happens. Right now,

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<v Speaker 4>the strait is open. We a lot of boats are

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<v Speaker 4>coming through. People aren't reporting that, and that may slow

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<v Speaker 4>down a little bit at some point, but right now

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<v Speaker 4>a lot of boats are coming through. The naval blockade

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<v Speaker 4>has been extremely effective zero I mean literally while it's up,

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<v Speaker 4>and that's been for quite a while, you know, except

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<v Speaker 4>for a couple of little pauses where we opened it

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<v Speaker 4>with a deal, but the deal didn't termine, you know,

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<v Speaker 4>the deal didn't turn out to be what they said,

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<v Speaker 4>you know, when they tell us one thing and they

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<v Speaker 4>do another. But the blockade has been one hundred percent successful.

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<v Speaker 4>No boats have gotten into Iran, but they are getting

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<v Speaker 4>in for other places. But we'll see. We're going to

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<v Speaker 4>see what happens. It'll either be extremely good and oil

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<v Speaker 4>prices are going to drop like a rock, or will

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<v Speaker 4>continue to do exactly what we're doing. You know, they

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<v Speaker 4>were talking about three hundred and fifty dollars a barrel,

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<v Speaker 4>and it's today eighty four eighty five, and we are

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<v Speaker 4>getting a lot of oil out. But the other thing

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<v Speaker 4>that's happened is people have found other alternatives which they

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<v Speaker 4>never thought about Texas, Alaska, Louisiana and other places. In addition,

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<v Speaker 4>a lot of pipelines, record numbers of pipelines are being built,

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<v Speaker 4>So I think the Hormost Strait's not going to be

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<v Speaker 4>quite as important as.

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<v Speaker 3>It was in the best Now this comes as President

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<v Speaker 3>Trump announced economic d day against Iran. It was the

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<v Speaker 3>most crushing economic operation is he just pride, ever taken.

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<v Speaker 3>And he announced that the US not only is targeting

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<v Speaker 3>Iran and its allies with the crushing economic operation that

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<v Speaker 3>he says we've ever taken against any country. He said, quote,

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<v Speaker 3>no one has given the Islamic Republic of Iran a

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<v Speaker 3>greater opportunity to make a deal than me. Tragically, for them,

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<v Speaker 3>they have failed to take it. Therefore, I'm announcing the

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<v Speaker 3>most crushing economic operation ever taken against any country. This

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<v Speaker 3>will be economic warfare and isolation on an unprecedented scale. Now,

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<v Speaker 3>Trump said Iran is hanging on by a thread, and

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<v Speaker 3>based on the data, he's absolutely right, and it is

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<v Speaker 3>a direct result of the US military strikes that have

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<v Speaker 3>devastated the country's Navy, air force, and military infrastructure. The

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<v Speaker 3>president also declared that any country that allows its financial institutions,

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<v Speaker 3>it's businesses, it's airports, or government entities to provide any

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<v Speaker 3>type of lifeline to Iran will itself face tremendous economic consequences.

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<v Speaker 3>Swap lines, cash transfers, exchange houses, ship registries, front companies.

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<v Speaker 3>It all needs to stop now, the President said, you

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<v Speaker 3>know who you are. That was obviously a shot across

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<v Speaker 3>the bow of any country that's trying to help Iran. Now, Trump,

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<v Speaker 3>like in the operation to the Economic d Day, that

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<v Speaker 3>will require our allies to stand with the United States

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<v Speaker 3>of America to isolate and defeat the Iranian threat.

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<v Speaker 1>Now.

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<v Speaker 3>President Trump's declaration also comes after the sixty day period

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<v Speaker 3>for negotiations to end the war. It was established under

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<v Speaker 3>an interim peace deal signed in June and expired on

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<v Speaker 3>Monday without a breakthrough. Then on Tuesday, the President indicated

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<v Speaker 3>that no further talks with the regime or plan, and

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<v Speaker 3>the US naval blockade of Iranian ports in the Strait

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<v Speaker 3>of Hormuz remains in full force and effect, quote unquote.

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<v Speaker 3>These maniacs on the ropes, and these historic measures will

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<v Speaker 3>cripple them and their ability to project terror worldwide. The

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<v Speaker 3>President can continued, saying, Iran will never have a nuclear weapon.

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<v Speaker 3>Thank you for your attention to this matter. Now, if

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<v Speaker 3>you think the present's wrong, well look at the facts.

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<v Speaker 3>Because Iran's currency is plummeted to new lows on Monday,

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<v Speaker 3>as the US is said to announce the further sanctions

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<v Speaker 3>on the Islamic Republic, whose citizens are now rushing to

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<v Speaker 3>exchange lines to save their cash. The real dropped to

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<v Speaker 3>two point zero two million to one US dollar when

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<v Speaker 3>the currency markets opened on Monday, meaning the currency is

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<v Speaker 3>now worth about half of what it was at the

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<v Speaker 3>start of the year. That is not a good thing

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<v Speaker 3>if you live in Iran. The continued plunge during nearly

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<v Speaker 3>six months of war has led Iranians in Tehran to

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<v Speaker 3>sprint for the exchange markets in hopes of getting US bills.

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<v Speaker 3>There is no hope for a deal and peace, is

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<v Speaker 3>what a seventy three year old said to the Associated

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<v Speaker 3>Press as he waited an exchange line in downtown Tehran.

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<v Speaker 3>He said Iran's real has been in a free fall

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<v Speaker 3>since last November due to fears and years of Western

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<v Speaker 3>sanctions and persistently high inflation, all factors that have only

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<v Speaker 3>gotten worse during the war. Now, while i RAN's official

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<v Speaker 3>central bank rate stands at one point five million rail

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<v Speaker 3>to the dollar, the market rate is what the average

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<v Speaker 3>iraneum pays. President Trump's disseminated Iran's economy to a point

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<v Speaker 3>where the rail has now been weaker and inflation has

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<v Speaker 3>rarely been higher. Is how US Treasury Secretary Scott Bessant

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<v Speaker 3>said in an opinion piece in the Financial Times on Sunday,

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<v Speaker 3>saying the regime's final refuge now lies and the self

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<v Speaker 3>deception of fearful nations that still believe accommodating aggression can

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<v Speaker 3>secure a durable piece. He went on to add, now

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<v Speaker 3>bestn't warned that the additional financial penalties will come and

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<v Speaker 3>they will effectively collapse the regime, With Trump echoing the

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<v Speaker 3>same threat on social media, Iran is completely collapsing with

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<v Speaker 3>the United Air of Emirates. We also have even more

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<v Speaker 3>breaking news on this, and this is where you know

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<v Speaker 3>when the present speaks, the world listens. The UAE, for

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<v Speaker 3>the first time in years, is now cutting off trade

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<v Speaker 3>with Iran. That means they're nixing billions and billions of

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<v Speaker 3>dollars and it could have a crippling effect on Tehran,

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<v Speaker 3>a US ally in the Middle East. They're now saying

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<v Speaker 3>we stand with you and the UAE, which serves as

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<v Speaker 3>Terran's largest supplier of goods, they have now quote suspended

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<v Speaker 3>all trade over the weekend, nixing at least six billion

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<v Speaker 3>in cash that went to regime from exports as well

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<v Speaker 3>as access to vital supplies from the outside world. Dubai,

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<v Speaker 3>the UAE's thriving commercial pub is by far Rand's largest

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<v Speaker 3>supplier of goods. The UAE's government finally just got fed

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<v Speaker 3>up with Iran following their repeated missile attacks that have

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<v Speaker 3>triggered not only evacuations for the first time during the war,

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<v Speaker 3>but also had a negative impact on trade for the

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<v Speaker 3>country as well as tourism. The move not only threatens

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<v Speaker 3>the twenty one point three billion trade relation between the

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<v Speaker 3>two nations, but it also leaves Iran without its primary

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<v Speaker 3>way to collect US dollars. That is what a retired

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<v Speaker 3>US general and former Assistant Secretary of State said in

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<v Speaker 3>an interview to the Post. If the imiordis seize trade

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<v Speaker 3>and block dollar flows, it could have a crippling effect

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<v Speaker 3>on the Iranian economy. Dubai essentially serves as Iran's window

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<v Speaker 3>to the world after years of being slapped by Western sanctions,

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<v Speaker 3>with traders buying and re exporting consumer goods as well

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<v Speaker 3>as food and industrial equipment to Iran. And yeah, that

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<v Speaker 3>was profitable for the UAE, but they don't want to

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<v Speaker 3>lose their ally with the US. Even more shocking about

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<v Speaker 3>this move by the UAE just to put in comparison.

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<v Speaker 3>At one point, the two nations had strengthened their economic

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<v Speaker 3>cooperation and only it was just two years ago. In

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<v Speaker 3>twenty twenty four, the UAE was surpassing China is Iran's

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<v Speaker 3>most vital trading partner. I Ran import about fourteen point

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<v Speaker 3>eight billion worth of goods from the UAE during the

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<v Speaker 3>first ten months of the twenty twenty five fiscal year.

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<v Speaker 3>That accounts for thirty percent of its total imports. According

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<v Speaker 3>to the two countries trade data, i Ran imported about

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<v Speaker 3>fourteen billion worth of goods from the UAE during the

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<v Speaker 3>first ten months of twenty twenty five, and that means

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<v Speaker 3>that has all disappeared now now. Duvi's ports are the

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<v Speaker 3>primary way Iran gets goods like phones, computers, tobacco and nuts. Meanwhile,

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<v Speaker 3>i Ran exports around six point five billion worth It

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<v Speaker 3>goes to the UAE during the same fiscal period nearly

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<v Speaker 3>fifteen percent of its non oil exports. And most notably,

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<v Speaker 3>Iran also depended on the UAE for seventy percent of

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<v Speaker 3>its fuel oil exports, making UAE its largest market for

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<v Speaker 3>their product. Refined oil is also come back in the

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<v Speaker 3>opposite direction from Dubai as well, with gasoline and diesel

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<v Speaker 3>imports from the UE helping to offset iran supply deficit.

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<v Speaker 3>Now what does this actually mean, Well, it's pretty simple.

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<v Speaker 3>This is a massive blow and it leaves Iran with

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<v Speaker 3>fewer means to make money and import goods, and its

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<v Speaker 3>economy is now continuing to plummet under the strain of

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<v Speaker 3>the US sanctions. In many ways, the embargo being put

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<v Speaker 3>on by the UAE is actually even more significant than

0:13:29.920 --> 0:13:33.080
<v Speaker 3>the embargo being put on by the United States. The

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<v Speaker 3>strain comes as the Treasury Secretary announcing the start of

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<v Speaker 3>Operation Economic Outcast, calling on all nations to follow the

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<v Speaker 3>UAE's lead and to cut off all business with Iran.

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<v Speaker 3>Bessen said, quote. The President is making phone calls to

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<v Speaker 3>world leaders as we speak, with specific requests to cease

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<v Speaker 3>their interactions with the regime. We are already seeing results.

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<v Speaker 3>So it's clear President United States of America flinching, and

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<v Speaker 3>it's clear now that Iran is teetering on total economic collapse,

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<v Speaker 3>which is exactly what the President said he was wanting

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<v Speaker 3>to do.

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<v Speaker 2>Thank you for listening to the forty seven Morning Update

0:14:12.160 --> 0:14:16.240
<v Speaker 2>with Ben Ferguson. Please make sure you hit subscribe wherever

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<v Speaker 2>you're listening to this podcast right now and for more

0:14:19.360 --> 0:14:23.119
<v Speaker 2>in depth news, also subscribe to the Ben Ferguson podcast,

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<v Speaker 2>and we will see you back here tomorrow