Iranís Oil Ministry says it has cut off Britain, and France


petros
#1
Get ready to pay at the pump!

TEHRAN, Iran ó Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iranís crucial fuel exports.

The EU imposed tough sanctions against Iran last month, which included a freeze of the countryís central bank assets and an oil embargo set to begin in July. Iranís Oil Minister Rostam Qassemi had warned earlier this month that Tehran could cut off oil exports to ďhostileĒ European nations. The 27-nation EU accounts for about 18 percent of Iranís oil exports.

ďCrude oil exports to British and French companies have been halted,Ē Oil Ministry spokesman Ali Reza Nikzad-Rahbar said on the ministryís shana.ir website. ďWe have our own customers and have no problem to sell and export our crude oil to new customers.Ē
Britainís Foreign Office declined comment, and there was no immediate response from French officials.

The semiofficial Mehr news agency said crude exports were halted Sunday to the two countries. It also said the National Iranian Oil Company has sent letters to some European refineries with an ultimatum to either sign long-term contracts of two to five years or be cut off.

Mehr did not specify which countries were sent the ultimatum, but Spain, Italy and Greece are among Europeís biggest buyers of Iranian oil.

Iranís targeting of Britain and France appeared to be a political decision to punish the two countries for supporting tougher sanctions against Iran over its disputed nuclear program.

Sundayís announcement follows a flurry of contradictory signals by Iran about backlash against the EU for imposing a boycott on Iranian oil.

Last week, state media said Iran was planning to cut off oil exports to six EU nations, including France, but later reports said the nations were only told that Iran has no problem finding replacement customers for the European shipments.

The EU sanctions, imposed last month, were part of Western efforts to target Iranís critical oil sector in attempts to rein in Tehranís nuclear program.

The West fears Iranís nuclear program aim to develop atomic weapons. Iran denies the allegations, and says the program is for peaceful purposes like producing electricity and medical isotopes.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
 
captain morgan
#2
Iran's 'friends' will happily leverage this situation to their advantage. The EU will simply be buying their petro-products from the friendly broker nations.
 
petros
#3
Quote: Originally Posted by captain morganView Post

Iran's 'friends' will happily leverage this situation to their advantage. The EU will simply be buying their petro-products from the friendly broker nations.

If they can get their product to port.
 
WLDB
#4
Oh no! How will Britain and France survive without Iranian oil!?
 
MHz
#5
Didn't Libya just open a damaged port?
 
PoliticalNick
#6
I am sure there are plenty of customers in SE Asia that will happily buy up the surplus. Thus is just one more case where the governments in the west show absolutely no regard for the average Joe who will likely now be paying an extra $1/L while the oil companies show record profits.
 
MHz
#7
Iran sales will be pegged to the price of gold will it not, that means those nations buying oil would not need to hold onto US currency and dumping that would increase the price of gold perhaps but at least fluxuations in the USD will not raise prices for either of them. With the West starting to seize bank accounts the sales would have to be approved by the World Bank and all they care about is getting their interest payments on their books on time.

Quote: Originally Posted by petrosView Post

If they can get their product to port.

How much of their exports use the Strait, I would think a pipleline or a port on Arabian Sea would be the best way to ship oil to the east. More work for her trading partners, especially if India is about to bloom to join China as the two manufacturing centers of the world. The World Bank will have them selling back and forth till their economy is like the one of the West today, 400 years tops.

I guess the test to see if a few could manufacturer all the needs of the rich didn't pan out and the World Banksters are going back to the old tried and true method a few with a sharp sword get served by the multitudes, back-talk brings death.
 
WLDB
#8
Quote: Originally Posted by PoliticalNickView Post

I am sure there are plenty of customers in SE Asia that will happily buy up the surplus. Thus is just one more case where the governments in the west show absolutely no regard for the average Joe who will likely now be paying an extra $1/L while the oil companies show record profits.

Why blame the governments and not the oil companies who are the ones who chose to raise the prices?
 
L Gilbert
#9
Last I heard, Russia has plenty of oil. So does Canada. So why would Iran's stopping its oil exports be a problem? Costs will go up a bit due to shipping prices for some countries, but there's no shortage of oil.
 
petros
#10
Quote: Originally Posted by L GilbertView Post

Last I heard, Russia has plenty of oil. So does Canada. So why would Iran's stopping its oil exports be a problem? Costs will go up a bit due to shipping prices for some countries, but there's no shortage of oil.

Quote: Originally Posted by petrosView Post

If they can get their product to port.

Having oil is one thing, exporting it another.
 
PoliticalNick
#11
Quote: Originally Posted by WLDBView Post

Why blame the governments and not the oil companies who are the ones who chose to raise the prices?

If our governments would keep their noses out of the business of another sovereign nation and quit all the political posturing the oil would keep flowing and there wouldn't be an excuse for the oil companies to raise the prices.

I would not be surprised if somehow this stoppage in the flow of Iranian oil becomes the catalyst for military action and war. I bet the US is salivating and thinking of how they can use this to invade.
 
L Gilbert
#12
Quote: Originally Posted by petrosView Post

Having oil is one thing, exporting it another.

So what's stopping Canada or Russia from supplying Spain, Greece, etc?
 
petros
+2
#13  Top Rated Post
Pipelines and ports unless you have some flying tankers you aren't telling us about.
 
L Gilbert
#14
Quote: Originally Posted by petrosView Post

Pipelines and ports unless you have some flying tankers you aren't telling us about.

Well, plenty of ports are open. I'm guessing there are pipelines through Russia. so?

I don't see what you are arguing here.
 
LiesOfTheIntell
+2 / -1
#15
Good for them.

NO MORE WARS FOR ISRAEL OR THE OILCO'S.
 
petros
#16
Quote: Originally Posted by L GilbertView Post

Well, plenty of ports are open. I'm guessing there are pipelines through Russia. so?

I don't see what you are arguing here.

Why guess? Check out the facts.
 
Angstrom
+1 / -2
#17
Oh boy! I better go back to work Monday and work on family day. The government will need my money to buy more bombs.
 
Bar Sinister
+1
#18
Quote: Originally Posted by captain morganView Post

Iran's 'friends' will happily leverage this situation to their advantage. The EU will simply be buying their petro-products from the friendly broker nations.

Quite so. This is a matter of Iran cutting off its nose to spite its face.
 
damngrumpy
+1
#19
The countries affected will find other sources for oil, the problem is the companies will use
this as an excuse to raise prices for the summer season. If they are going to raise them to
much the government should step in and regulate the price according to a fair profit margin
determined by government of course.
As for Iran, it is time they were given a lesson in something short of diplomacy.
 
MHz
#20
Quote: Originally Posted by Bar SinisterView Post

Quite so. This is a matter of Iran cutting off its nose to spite its face.

How is that going to happen, Iran will be still selling as much oil and pegged to gold rather than the USD. Didn't take a Saddam long to be invaded after he started selling his oil in euros.
Iran may start something that catches on and just that one move could see fuel prices in the US skyrocket while the price of crude is actually unchanged to any great degree.
 
petros
#21
Who is going to have their orders cut to meet the 18% shortfall in UK and Britain?
 
EagleSmack
#22
Quote: Originally Posted by damngrumpyView Post

The countries affected will find other sources for oil, the problem is the companies will use
this as an excuse to raise prices for the summer season..

ABSOLUTELY! They are licking their chops over this. The bugles are already sounding off from gas station to gas station.

And they're not waiting for summer.

I had 3/4 of a tank and topped off this morning.

And we don't get a drop from Iran.
 
Ron in Regina
+1
#23
I hear you, and if my tank wasn't already full, I would'a filled it too.
 
EagleSmack
#24
Quote: Originally Posted by PoliticalNickView Post

I would not be surprised if somehow this stoppage in the flow of Iranian oil becomes the catalyst for military action and war. I bet the US is salivating and thinking of how they can use this to invade.

Another warmonger praying for war!
 
L Gilbert
#25
Quote: Originally Posted by petrosView Post

Why guess? Check out the facts.

Looks like Russia wants to expand its exports.
carnegieendowment.org/files/r...il_exports.pdf (external - login to view)
Canada ships oil to European countries (UK, France, etc.) and no ports are closed.

Like I said, I have no idea what you are arguing here.
 
earth_as_one
#26
Britain and France don't import oil from Iran. The gesture was symbolic. Iran has offered their client countries long term oil contracts. If they refuse to agree to Iran's conditions, then Iran will refuse to renew existing contracts.

Most likely, countries that really don't care about the US and Israel's dispute with Iran will stop buying Iranian oil with $US. Given the way the US is running up a debt, getting off the $US before it collapses might be a smart move. Certainly this is an opportunity for large stable economies to challenge the $US as the international currency. Iran's biggest clients are China, India and Japan While Japan is following the US's lead, they can't reduce their Iranian oil imports to 0. they seek an exemption. China and India could offer to buy Iranian oil with their own currencies.
 
petros
#27
Quote: Originally Posted by L GilbertView Post

Looks like Russia wants to expand its exports.
carnegieendowment.org/files/r...il_exports.pdf (external - login to view)
Canada ships oil to European countries (UK, France, etc.) and no ports are closed.

Like I said, I have no idea what you are arguing here.

We have oil ports that export to EU?

What do Britain and France do over the next three years while waiting for orders from Russia if they (Russia) wish to sell to UK/France to be filled?

Do you think you can just up and buy 18% of your supply like it were boxes of Cheerios?

From your link....

Quote:

Unless Russia undertakes a monumental task in energy
conservation in its transport sector and achieves a major breakthrough in oil
field development, the potential to further expand crude oil exports above current
volumes remains limited.

 
earth_as_one
#28
Petros is right. Canada has lots of oil, but no way of moving most of it to market. I am against building a pipeline to Katimat. Sending oil tankers down a long narrow fjord is asking for trouble. The focal point of Canada's energy exports should be Prince Rupert.
 
MHz
#29
Quit dreaming. Libya will be used to supply the EU
 
petros
#30
Quote: Originally Posted by MHzView Post

Quit dreaming. Libya will be used to supply the EU

Not even close to meeting the needs.
 

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