Iran

The UN is set to announce the lifting of sanctions on Iran today after Tehran scaled back its nuclear programme. The International sanctions had suffocated Iran’s ability to trade with the west, and was put in place to force anti-western Iran to negotiate on its nuclear programme. The lifting of the sanctions will be marked as a great achievement for U.S. President Barrack Obama and Secretary of State, John Kerry as well as their European partners.

Iran has released four Iranian Americans as part of a prisoner exchange agreement. The office of the Tehran Prosecutor Abbas Jafari Dolatabadi said:  “In line with ratifications of Iran’s Supreme National Security Council and the Islamic establishment’s general expediencies, four Iranian prisoners, who hold dual nationality, have been released within the framework of a prisoner swap” One of the prisoners is believed to be Washington Post reporter Jason Rezaian, who was as convicted of espionage in Iran last year.

Just days after two US Navy boats and ten sailors were seized at Farsi Island ahead of President Obama's state-of-the-union address and just days before Tehran will see international sanctions lifted as part of the "historic" nuclear accord, four US hostages have been freed in a prisoner swap between Washington and Tehran.

Among the detainees is Washington Post reporter Jason Rezaian who was famously held for spying after being convicted in a shadowy trial last year and faced up to 20 years in an Iranian prison.

To awaken Thursday to front-page photos of U.S. sailors kneeling on the deck of their patrol boat, hands on their heads in postures of surrender, on Iran’s Farsi Island, brought back old and bad memories.

In January 1968, LBJ’s last year, 82 sailors of the Pueblo were captured by North Korea and held hostage with Captain Lloyd “Pete” Bucher, and abused and tortured for a year before release.

In the final 444 days of the Carter presidency, 52 Americans were held hostage in Tehran, and released only when Ronald Reagan raised his hand to take the oath.

Submitted by Tom Kool via OilPrice.com,

The great Kingdom of Saudi Arabia - the long-time dictator of crude oil prices for the world - is struggling on all fronts.

The Saudis are losing their proxy wars in both Syria and Yemen; their OPEC leadership is under threat; they are not winning the crude oil price war; and its long-running alliance with the West is in question.