A law to be debated in Iran's parliament on Sunday could halt exports of oil to the European Union as early as next week, the semi-official Fars news agency quoted a lawmaker as saying on Friday.
"On Sunday, parliament will have to approve a 'double emergency' bill calling for a halt in the export of Iranian oil to Europe starting next week," Hossein Ibrahimi, vice-chairman of parliament's national security and foreign policy committee, was quoted as saying.
Parliament is pushing for the export ban to deny the EU a 6-month phase-in of the embargo on Iranian oil that the bloc agreed on Monday as part of a raft of tough new Western sanctions aimed at forcing Iran to curb its nuclear program.
The EU accounted for 18 percent of Iranian crude oil sales in the first half of 2011, according to the U.S. Energy Information Administration (EIA), making it Iran's second biggest customer after China.
"If the deputies arrive at the conclusion that the Iranian oil exports to Europe must be halted, the parliament will not delay a moment (in passing the bill)," Fars quoted Moayed Hosseini-Sadr, a member of parliament's energy committee, as saying.
"If Iran's oil exports to Europe, which is about 18 percent (of Iran's oil exports) is halted the Europeans will surely be taken by surprise, and will understand the power of Iran and will realize that the Islamic establishment will not succumb to the Europeans' policies," he said.
The Iranians are demonstrating they have potential cards to play in this environment of escalating hostility. And unlike Syria, they are not nearly as dependent on oil exports to Europe. More and more, the Iranians are pushed East at the expense of the West.
Above: Banned in Europe, this freshly overhauled for 2012 Iran Air Boeing 747-286BM will very soon be servicing routes to Asia.Photo: Iman Asgari at Airliners.net
this is a yet another blunder from Iran; Iran should not let herself being drawn to a retalitory spiral ; sometimes you win by backing down; you have to calibrate and be smart; acting like you dont care is not in the best interest of Iran; Iran should not make this move; it is insane; Iran should calm down the situation and 'demilitarize' its foreign policy; the civilian element is missing in iranian policy after they expelled the 'Reformers' from government and parlament - and that is the most dangerous and terrifying thing in the current situation
ReplyDeletesome hope
ReplyDeletehttp://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/3915343
this is a yet another blunder from Iran; Iran should not let herself being drawn to a retalitory spiral ; sometimes you win by backing down; you have to calibrate and be smart; acting like you dont care is not in the best interest of Iran; Iran should not make this move; it is insane; Iran should calm down the situation and 'demilitarize' its foreign policy; the civilian element is missing in iranian policy after they expelled the 'Reformers' from government and parlament - and that is the most dangerous and terrifying thing in the current situation
ReplyDeleteSo in your view Iran should have just remained quiet/obedient and take the artificially generated sh*t coming from some US puppets in the EU? What a tool you are?
Actually, Iran is doing the right thing by completely moving towards Asia. These "sanctions" will end up hurting the deadbeat and poverty stricken EU puny economies like Greece, Italy and Spain more. Most energy analysts are predicting an 30% rise in the price of oil this year and Iran can make it worse by sabre-rattling and playing the Hormuz card. Just a simple incident will cause another 10% oil rise risk-premium. US is dumber than hell.
ReplyDeleteSeceondly, as the article correctly states, Iranian economy is highly diversified now and Iran produces a wide range of consumer and industrial goods. Iranian non-oil exports alone are in excess of $30 billion annually. Just visit Iran's neighbours and find the proliferation of Iranian made products in the region.
Even the IMF predicts Iranian economy to grow by almost 3% this year (the real number is higher as most non-dollar bi-lateral trade is not easy to measure). Also Iranian grey economy is as large as the open one, not to mention the Sepah entreprenuers.
These pathetic sanctions will only accelerate Khod Kafei even more. Just take an Asia bound flight and see how many Asian and Iranian businessmen travel daily. Iran is completely tied to China and Asia now and can easily ignore the decaying west as power has truly shifted to Asia. Russian and Turkish trade with Iran is also accelerating rapidly.
The Zionist/US/EU morons have only increased the cost of oil and energy for their own unemployed, homeless and jobless deadbeat consumers. These unworkable sanctions are leading to rapid price increases in bankrupt western economies and will transfer another $200 BILLION a year to OPEC, Russia and the Arabs. US is on the road to economic suicide as well as today's GDP figures show.
I think this is a great move... rather then the usual military threats the will to show Iran has economic leverage too, is welcomed. Iran still needs to find a way to get liquid american dollars and euros, but causing a downgrading of the euro would help them project power
ReplyDeletenow i might be a little utopian but if I am not mistaken the electoral process will allow Iranians to show some of their discontent with Iran's foreign policiy(if it does affect it so badly as is claimed). In such a case the Amadjinehad party would do well to show Iran is capable of conventional economic warfare if necessary.. And if moderation wins the next election NATO will be much more willing to negociate (rather then list them on another axis of evil list, maybe negociate and give real incentives for the population to elect moderates).
The oil middlemen have been waiting for this opportunity for ages.Now that the EU has presented them this golden opportunity on a golden plata, they'll milk the EU cow till the they run dry.
ReplyDeleteOil prices will definitely rise if this move goes ahead.Say adios to the EU.This is a classic case of collective sucide initiated by Britain and France.Except that they're the middle men and will get their cut.Iran will also get their cut.They rest of the EU who don't matter will have to swallow the pill.
In the end the imperial hubris and short-sighted opportunism wrapped in a heavy dose of idiocy will break the EU apart.
As if they didn't have enough troubles already.
Most of the comments here are spot-on and even an energy novice can figure out the hollowness and boomerang nature of this totally idiotic move by EU under equally crazy US hosility to Iran at the behest of global Zionist looters and AIPAC crazies. The dumbass Newt Gingrich is the epidemy of US "intellect" now and must be the new policy analyst for Foggy Bottom.LOL.
ReplyDeleteInternational Energy Agency and almost all energy industry exerts, executives and policymakers agree that China and Russia stand to gain the most and western oil firms and consumers will emerge the biggest losers of the EU's oil ban against Iran. Iran's trade with China is already over the $50 BILLION mark and Turkish banks are taking up the slack.
Taking almost 3 MILLION barrels a day of Iranian OIL in peak oil era is no joke as western economies already face collapse. Supplies from US/Zionist occupied Libya and Iraq are highly uncertain, Nigeria is heading into a civil war and the Saudi petro-pimpdom simply is being pumped dry at 9.5 million barrels a day and simply can not produce any more. The Saudi pimps have been killing Shia in their oild rich eastern province and keeping wahabbi dissent in check from repression and throwing petro-dollars at the bedouins.
In the meantime, Asian OIL DEMAND is rising by over 16% a year.
That leaves a growing number of European buyers competing for dwindling supplies. Inevitably hype has turned to Saudi Arabia, the world's biggest exporter and US occupied puppet, but the West, in the meantime, is seeking to avoid a price spike that would deal a severe blow to its dying economy. EU nations already face massive socio-economic implosion.
It does not take a genius to realize that there is no excess capacity anywhere. Iran is on a winner again awill reap the maximum leverage from EU suicidal subservience to Zionism.
8:02 please do not overestimate Iran's influence or power.
ReplyDeleteAgain, Iran is a country of 70 million which is a speck of dust in the context of the world.
@ anon January 28, 2012 1:16 AM
ReplyDeleteMy friend it is you that needs a REALITY CHECK. Iran is over 77 million people sitting on world's 4th or perhaps 3rd largest OIL reserves and 2nd largest gas reserves and literally controlling the vital Hormuz choke point of 40%Persian Gulf energy transhipment routes.
If 5 million imported Zionist warmongers strutting on US taxpayer funded weapons consider themselves to be the "chosen ones" dictating global policies then in comparison Iran is indeed a mega-power by sheer dint of size and landmass.
Don't let your simple and myopic Iranophobia blind you from the TRUTH & STRATEGIC REALITY.
A nation of 75 million plus is considered a middle-power by any standard. Throw in a 3 millenia old civilization straddling the world's energy and geo-political faultlines and you do have a winner.
World economy, particularly the imploding western economies live on fossil fuels. So any major disruption or shooting war will bring the whole house down. And please don't delude yourself with US/Zionist power crap. These US/NATO losers have lost to Afghan opium farmers and bogged down for a decade, let alone take on Iran in a no holds barred fight to the finish. US buddy Saddam had similar delusions in the 80's.
It may help to buy a map as well and not spend too much time on the violent videos on playstation. War is a bit different than Hollywood FX and team commando joystick generalship with popcorn in hand.
8:02 please do not overestimate Iran's influence or power.
ReplyDeleteAgain, Iran is a country of 70 million which is a speck of dust in the context of the world..
The total Zionists population in the world are a tiny fraction of Iran's total population. Yet they have a tremendous and destructive influence on The US and Western civilization as a whole.
I don't think the US shares in your view that Iran's influence in the world isn't that significant.Otherwise they wouldn't be spending so much effort and sending their top diplomats all over the world to counter what they like to call "the Iranian threat".
And again, who said the world's against Iran? If the US and some of her tag-along poodles in the EU constitute "the world" for you, good luck with that.
I'm not Iranian and even I can see all the BS coming from Europe and America against Iran and guess what? I support Iran's stance in the face of global arrogance and aggression.
Oil prices will rise, the oil Mafia(middlemen) will make a fortune out of this EU generated mess and Iran will also get their fair share.If you're living somewhere in Spain, Greece, Italy etc. be prepared to dig a little deeper into your already empty pocket at the pump and shopping mall.
Libya output now at 1.3 mbpd, will be at 1.65 to 1.8 mbpd within four months, 2.2 mbpd within one year.
ReplyDeleteIran will lose out in the long term + have to settle for lower prices from Asian countries over the next year or two.
Libya output now at 1.3 mbpd, will be at 1.65 to 1.8 mbpd within four months, 2.2 mbpd within one year.
ReplyDeleteIran will lose out in the long term + have to settle for lower prices from Asian countries over the next year or two.
No it won't..Libya is not over yet..Don't hold your breath..NATO's rats have already been pushed out of Bani Walid..At least read the news before making any statements..Even if Libya's oil comes online, it still won't be enough for the EU market..I really wish I could be as optimistic as you but events prove otherwise.
What is the point that Iran has the third biggest oil and second biggest gas reserves in the world when the country is been run by thieves liars and murderers.The system goes like this;loot as much as you can take the money and put it in foreign banks and run,just like the one that went to Canada with $3 Billion.
ReplyDeleteOr the missing $18 Billion truck which went to Turkey or the Billions sent to Syria and South America etc etc etc.....
Islamic government have contacted Russian government for the release of some old biplanes from the Moscow state museum.Islamic government said they are very interested in this advanced 1940s airplanes because it will fill the requirements needed by Iran Air and Mahan Air for the next decade.
ReplyDeletePreempting to save face.
ReplyDeleteTypical reaction by this reactionary regime.
React react react,that's all they know besides stealing raping and killing.