Tensions with Iran & oil, biggest threats to American Economy. Timitohy Geithner, U.S Treasury Secretary, made this comment just last Wednesday. Gas prices increased again after the West’s tensions with Iran. Iran has stopped selling crude oil to some European countries following their decision to put sanctions on Tehran, over its civilian nuclear program. Experts believe that the anti-Iran sanctions imposed by the West are actually hurting the West as Iran remains the second exporter of crude oil in the Organization of the Petroleum Exporting Countries (OPEC).