THE threat of an Israeli attack on Iran’s nuclear facilities has pushed world oil prices up by 15 per cent in the past month and raised fears that the fissile geopolitics of the Middle East might once again spell global economic havoc.
Israel believes Iran’s nuclear program is approaching a point of no return beyond which it would be impossible to prevent it developing nuclear weapons.
US President Barack Obama is expected to press Israeli Prime Minister Benjamin Netanyahu to defer action in talks in Washington today, to give time for sanctions to have full effect.
Facing an election in November and enjoying the first rays of economic sunshine since the 2008 global financial crisis, Obama does not need a Middle East war and soaring oil prices.
However, there is a strong push in Israel for military…
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