Cabot Phillips

He was the first one to do that, by the way.

President Obama, under the Iran nuclear deal, the United States was not allowed to sanction any Iranian oil.

President Obama, under the Iran nuclear deal, the United States was not allowed to sanction any Iranian oil.

And all of the terror proxies that we've been discussing, they're all financed by Iranian oil.

And all of the terror proxies that we've been discussing, they're all financed by Iranian oil.

So if you can go after the oil, it changes everything because Iran is the central banker for all of these terror groups around the Middle East.

So if you can go after the oil, it changes everything because Iran is the central banker for all of these terror groups around the Middle East.

And so

And so

China was able to buy a lot of Iranian crude at a discount because it was illegal to ship the oil.

China was able to buy a lot of Iranian crude at a discount because it was illegal to ship the oil.

And so China very much enjoys cheap Iranian oil.

And so China very much enjoys cheap Iranian oil.

Under the first term, we were able to collapse

Under the first term, we were able to collapse

Iran's exports and took it from something like 1.7 million barrels to functionally zero.

Iran's exports and took it from something like 1.7 million barrels to functionally zero.

And that had a crippling effect on the economy.

And that had a crippling effect on the economy.

I think it's going to be much harder now for China to continue buying the oil.