Iran's President Warns Over U.S. Push For Countries To Stop Buying Oil From Iran

Iran issued a new warning over Mideast oil supplies as the United Arab Emirates said on Tuesday it could increase its own production, the latest remarks to follow President Donald Trump’s demand for lower global energy prices.The comments by Iranian President Hassan Rouhani and the unexpected announcement by the UAE’s oil-rich capital Abu Dhabi came as U.S. benchmark crude traded around $75 a barrel. A recent decision by the Organization of the Petroleum Exporting Countries to increase the cartel’s own production by 1 million barrels a day has yet to tamp down prices. That’s led to higher prices at gasoline pumps in the United States as it heads toward midterm elections for Congress. Rouhani added that if Iran’s crude oil exports were threatened, the rest of the Mideast’s would be as well. “It seems they do not understand what they are saying when they say Iran will not be allowed to export even a single drop of oil,” Rouhani said in remarks aired by Iranian state television. “All right, if you can do such a thing, do it and see the result!” Rouhani did not elaborate, but Iran long has asserted it could shut down the Strait of Hormuz, the narrow body of water that separates the Persian Gulf from the wider world. A third of all oil traded by sea passes through the strait and the U.S. Navy regularly has direct, tense encounters with Iran’s paramilitary Revolutionary Guard there

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Iran is on its knees because of sanctions. They are in no position to send out warnings to anybody....Regime has to change...

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And what exactly will they do? Nothing. So, Rouhani and mullahs have to go and give opportunity for Iranians to live as a democratic world...This "European tour" is a bad attempt to stay "alive"

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I saw  2 warnings to the West as Rouhani's European trips begins:

1- Rouhani hints that Iran may close the Strait of Hormoz if its oil export drops.

2- the Interior Minister says "if we close our eyes only for 1 day, loads of narcotics and refugees will flood the EU"

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They thinking: If we cannot export our oil, no country in the region will be able to sell their oil.(Strait of Hormuz)

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As expected China has no plans to cooperate with President Trump’s crackdown on the Iranian oil industry. “China is always opposed to unilateral sanctions and long-arm jurisdiction,” -  Chinese diplomat said Tuesday.  Foreign Ministry spokesman Lu Kang told reporters when asked if China would cooperate with the U.S. “China and Iran are friendly countries. We maintain normal exchanges and cooperation within the framework conforming to our respective obligations under the international law," he added. 

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As I see, we will again have a wild increase in oil prices....

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Indeed and the bulk of non producing oil companies will suffer 

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Oil production in Oil rich countries in Africa cannot quench the thirst or demand of Petroleum in non producing countries. Trump's threat will bear a negative telling effect on these countries 

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Iran doesn't own straits of hormuz. Iran can cut it off at the expense of war. No one is speaking of cutting off Iranian oil exports by blocking Hormuz but cutting of Iranian expoets by economic sanctions. If Iran escalates it into war, then Iran will be up against many people. Iran has every right to respond by economic sanctions against economic sanctions.

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Iranian Foreign Minister Mohammad Javad Zarif says the Islamic Republic has lodged a complaint with the International Court of Justice (ICJ) over the United States' "unlawful" move to re-impose "unilateral" sanctions against Tehran.

https://www.presstv.com/Detail/2018/07/16/568287/Zarif-ICJ-Iran-US-Sanctions-JCPOA

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The regime change business almost never works. Just ask the Shah. Or Saddam, or multiple Central/South American folks, Vietnam if you prefer. Countries need to self-determine as much as possible. Typically when you force the change, in the end the cure tends to be worse than the disease. No shortages of examples on horrible blowback. 

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