This is going to have a major impact over here. We are already paying over $2 per LITER (roughly $9 per gallon) and replacing 20% of oil imports within a month is going to be almost impossible. Greece and Italy are going to be especially hard hit - not exactly what they need at the moment.
It will fail if Iran makes a deal with China and China flags the tankers.
Whoopie do. The Chinese will buy all they bring to market. They know it too.
Don’t worry. There’ll be an “oil for food” program, and that’ll allow just enough oil to keep Iran’s pore hungry wee ‘uns eating a balanced, nutritional diet of centrifuges and isotopes.
“This is going to have a major impact over here. We are already paying over $2 per LITER (roughly $9 per gallon) and replacing 20% of oil imports within a month is going to be almost impossible.”
20% of the EU’s oil imports may come from Iran, but nearly all of that goes to southern european countries - very little ends up in the UK. Our problem is not the price of oil, but the amount of duty and VAT our own governments place on road fuel. Getting on for 70% of the price of road fuel is duty and tax. The real enemy to the motorist is still Westminster, not I’manutjob or his cronies.