Skip to comments.Iran halts oil sales to UK, France on eve of talks
Posted on 02/19/2012 11:42:27 PM PST by Razzz42
((Reuters) - Iran ordered a halt to its oil sales to Britain and France on Sunday in a move seen as retaliation against tightening EU sanctions, as a team of U.N. inspectors flew to Tehran to press the Islamic Republic over its disputed nuclear program.
The European Union enraged Tehran last month when it decided to impose a boycott on its oil from July 1. Iran, the world's fifth-largest oil exporter, responded by threatening to close the Strait of Hormuz, the main Gulf oil shipping lane.
On Sunday, its oil ministry went a step further, announcing Iran has now stopped selling oil to France and Britain altogether - a powerful yet largely symbolic message since neither European nation relies on Iranian crude imports.
"Exporting crude to British and French companies has been stopped ... we will sell our oil to new customers," spokesman Alireza Nikzad was quoted as saying on the ministry website.
Iran, which denies Western allegations that it is seeking to make nuclear weapons, has ramped up its rhetoric in recent weeks while also expressing willingness to resume negotiations on its nuclear program.
A five-member team from the U.N. International Atomic Energy Agency (IAEA) flew to Tehran late on Sunday for talks, although Western diplomats have played down any hopes of a major breakthrough in the two-day meeting.
"I'm still pessimistic that Iran will demonstrate the substantive cooperation necessary," one envoy said in Vienna.
Yet the outcome of this week's discussions is important and will be watched closely because it could either intensify the standoff or offer scope to reduce tensions...
(Excerpt) Read more at reuters.com ...
US sanction of preventing Iran from using their acquired US oil dollars on the world markets via SWIFT (Society for Worldwide Interbank Financial Telecommunication) is really going to put the hurt on Iran short term as purchasing foodstuffs will be impossible through the usual government channels. So, black markets in Iran still prefer dollars (since smugglers have to pay in dollars to get items in the world markets then smuggle to the marketplace) and the exchange rate has recently caused about a 50% inflation spike locally in Iran because if you want to eat, you need to exchange for US dollars and dollar are hard to come-by now making them expensive to trade for.
All these thing the US leads in trying to destabilize Iran as the article speaks to locals and their plight with sudden inflation, caused by the US sanctions. Iran is being cutoff economically because they won't submit to nuclear guidelines and more importantly, trading their oil outside the US dollar market to China and India and Russia to name a few. This world break the US control on its reserve currency system, which is worse than going nuclear.
On the other hand, Iran spends more time and money on nuclear when they can't even refine their own crude efficiently having to send about 50% of their raw crude out to foreigners to get (refined) fuel back.
As usual, the locals suffer.
The war is coming folks—Its like 1938 and the drums of war are warming up. When it comes its going to be quick and unexpected EMF Pulse attack—Cyber war first with electronic bullets—then real war with real bullets—what will happen is up in the air. It could be a real WW III— a re-alignment of powers and states. What ever happens will come in the late spring—early summer. Look to June/July 2012.
Why do I say this? Obama is believe to be weak—strike while he’s in office, confuse him with peace missions and talk—get the territory you want before he can act. If you were an enemy of the USA this would be the best time to attack.
Big problem for England, they’ll be forced to buy oil from those evil Canadians.
I guess I’m confused.
If Iran halts sales to [whomever], what’s the big deal? Doesn’t [whomever] just buy oil from someone else? I mean, oil’s just a commodity in the world market.
Maybe Iran hopes other Islamofacists will join their reverse boycott. If so, [whomever] can just buy on the secondary market, maybe paying a few dollars more. Whoop-de-doo.
Britain and France buy so little oil from Iran that they don’t even report it.
I’d like the Iranians or anyone else to tell the world what oil sales they are talking about?
Even if Iran sells oil into the Euro pipelines, it would be impossible to know which drop went to Britain or France.
Iranian blowhards and liars concoct all of these “news” reports for the gullible media and gullible readers.