Enterprise highlighted a highly significant issue affecting the global economy. The sanctions, which have created severe restraints on Iran’s ability to conduct routine banking and shipping operations, have caused severe disruptions to its economy as the nuclear program remains an increasingly acrimonious issue between Iran and the West.
The dependence of human welfare on oil is a rather interesting reality of the modern age. In this context, the growing strength of Asian economies to oppose the oil embargo cannot be ignored, as pointed out in the Enterprise story. The significant impact of the individual economies of China, India, Malaysia, Japan and Korea cannot be put aside in any movement related to global economy. It is not only the influence of Asian economies but a distinct set of needs of Asia as an emerging global leader, which necessarily determines the course for economic sanctions. If only mild threats by Iran and the West could reflect in the international exchange prices, then any severe action must be carefully strategized.