00:00It all started with a geopolitical earthquake.
00:04Following the US and Israeli strikes on Iran,
00:07Israel's foreign minister called out Europe's deep divisions.
00:11The Spanish government, which is standing with all the tyrants of the world,
00:15like it stood with Venezuela, they are standing now with Iran.
00:20And Madrid fired back.
00:22Prime Minister Pedro Sánchez declared a firm no to war
00:27and blocked the US from using Spanish soil for its Iran operations.
00:31And in response, Donald Trump threatened to cut off all trade with Spain.
00:37So let's break down what is at stake.
00:40First, the military footprint.
00:42Spain vetoed US access to its Rota and Morón military bases.
00:47And these two strategically vital hubs for Washington in Europe
00:50sit near the Strait of Gibraltar,
00:53acting as a primary gateway for projecting American power.
00:56into the Middle East.
00:58And without them,
01:00US logistics gets significantly more complicated.
01:04And second, there is the economic fallout.
01:07Because as one of Spain's largest non-EU trading partners,
01:11the US accounts for tens of billions of euros in annual trade.
01:15And if Washington pulls the plug,
01:18it could devastate Spanish exporters,
01:21hitting everything from heavy machinery and pharmaceuticals
01:23to wine and olive oil.
01:26However,
01:27Madrid insists it is standing on the side of international law.
01:31And pointing to the Iraq war that took place around 20 years ago,
01:35Sanchez warned against repeating the same mistakes of the past.
01:39And he argued that Spain backing US military action back then
01:43only unleashed massive insecurity across Europe.
01:46But with Washington using trade as a weapon against yet another NATO ally,
01:52only one question remains.
01:54Who will blink first this time?
01:57.
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