Following nearly an entire year of escalating provocations by the Islamic Republic in their reaction to the 2018 US repudiation of the JCPOA deal, the US has held its response. The US administration did not react to the attack on shipping carried out by the Iranians in the Gulfs of Oman and Persia or the Strait of Hormuz, missile attacks on Saudi oil facilities, Saudi pipelines, and US drones. Only when the dueling in Syria spilled over and attacks moved into Iraq has the game gone up a notch regionally, ending the last round on Friday before dawn in Iraq with the killing of General Suleiman, the leader of the Al Quds unit of the Revolutionary Guard, an equivalent position to the Head of the CIA, but having been in power for 30 years. The effects on the markets were immediate. Indices fell sharply and gold and oil spiked up.
General Suleiman is gone. Middle East Nervous
Weekly Report - 06/01/2020