Regime: Despite Sanctions, Iran Will Sell Oil

[rainman + 263]

Iran will sell its oil and break sanctions reimposed by the United States on its vital energy and banking sectors, Iranian President Hassan Rouhani said on Monday.“America wanted to cut to zero Iran’s oil sales ... but we will continue to sell our oil ... to break sanctions,” Rouhani told economists at a meeting broadcast live on state television. The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it re-imposes sanctions on Monday aimed at forcing Tehran to curb its nuclear, missile and regional activities.China, India, South Korea, Japan and Turkey - all top importers of Iranian oil - are among eight countries expected to be given temporary exemptions from the sanctions to ensure crude oil prices are not destabilised.The restoration of sanctions is part of a wider effort by U.S. President Donald Trump to force Iran to curb its nuclear and missile programs as well as its support for proxy forces in Yemen, Syria, Lebanon and other parts of the Middle East. “Today the enemy (the United States) is targeting our economy ... the main target of sanctions is our people,” Rouhani said.
In May, Trump exited Iran’s 2015 nuclear deal with six powers and Washington reimposed first round of sanctions on Iran in August.

[Pavel + 384]

The last time sanctions were imposed on Iran, it was under UN, thus, Russia, EU, China complied. This time, they aren’t on board and will sabotage the sanctions. We will see result...

[damirUSBiH + 327]

Rouhani can try, of course, but so low and so cheap, that is not profitable.Consequences are coming!

[pinto + 293]

But then they need to accept local currencies. Such as rupee, yuan. yen, ruble etc.

[50 shades of black + 254]

Without the rest of the world going along I doubt the effects will be as serious this time. Already, the EU has a different view about this. It's a significant....

[ThunderBlade + 231]

Rouhani and Iranian regime have defied Iranians for 40 years. Iranian regime by itself is the biggest sanction you could put on a nation. They are against Iranians, the entire humanity and must be stopped.

[NickW + 2,714]

23 minutes ago, pinto said:

But then they need to accept local currencies. Such as rupee, yuan. yen, ruble etc.

That fine

Most the tat for sale in Tehran is of Chinese / Indian origin anyway.

Yen for the higher tech stuff they need

[NickW + 2,714]

21 hours ago, pinto said:

But then they need to accept local currencies. Such as rupee, yuan. yen, ruble etc.

My wife is there at the moment (helping her mum sort out her dads estate). But while there she takes the full advantage of low prices. The Iranians are more than happy to accept Sterling

Hair cut - check

Dentist and Dental Hygienist  -check

A years worth of dry cleaning - check

Womens beauty treatments - check

All for about 20-25% of the cost in the UK. I've warned her - she will be on Donnies hit list 

Edited November 6, 2018 by NickW

[Dan Warnick + 6,100]

U.S. Gives Eight Iran Oil Sanctions Waivers as Penalties Ramp Up

The U.S. gave a stark warning to companies around the world: Evading sanctions on Iran will hurt.

“I promise you that doing business in Iran in defiance of our sanctions will ultimately be a much more painful business decision than pulling out of Iran,” Secretary of State Michael Pompeo said Monday at a news conference in Washington, after the U.S. imposed penalties on 700 individuals, banks, ships, aircraft and companies tied to Iran’s energy and financial industries.

Vowing “swift, severe penalties” to those caught violating sanctions, Pompeo said the U.S. pressure’s campaign has cost Iran $2.5 billion in oil revenue since May. But oil traded close to a six-month low as Pompeo’s tough talk was softened by his announcement of temporary waivers from penalties for eight governments.

[Justin Hicks + 162]

The sanctions are a joke.. South Korea is going to come out ahead as they signed a 20 year deal with Cheniere Energy to buy a set amount of NGL for the next 20 years

[Guillaume Albasini + 851]

Pompeo has listed the eight countries granted with waivers :

China, India, South Korea, Turkey, Italy, Japan, Greece and Taiwan.

All the major customers of  Iranian oil are on the list. We are far away from Bolton's zero exports goal.

 

[Dan Warnick + 6,100]

2 hours ago, Guillaume Albasini said:

Pompeo has listed the eight countries granted with waivers :

China, India, South Korea, Turkey, Italy, Japan, Greece and Taiwan.

All the major customers of  Iranian oil are on the list. We are far away from Bolton's zero exports goal.

 

You do understand what the word "goal" means, right?  My goal next week, for example, is to have my current trade play all the way out and return me a profit of approximately $86,000, but the reality is that I may only achieve a profit of approximately $15,000.  Simple math will tell me that my goal may be unrealistic, although it is ultimately possible, while my realistic expectation still provides me with a very acceptable, and effective, profit.  

So, while the goal of the sanctions may be to reduce Iran's exports to zero, the reality has already been:

Vowing “swift, severe penalties” to those caught violating sanctions, Pompeo said the U.S. pressure’s campaign has cost Iran $2.5 billion in oil revenue since May.

Considering the revenue stream of Iran, that's been a pretty effective achievement, even before the sanctions had been re-imposed.

[BHUPINDER KUMAR + 6]

3 hours ago, Dan Warnick said:

You do understand what the word "goal" means, right?  My goal next week, for example, is to have my current trade play all the way out and return me a profit of approximately $86,000, but the reality is that I may only achieve a profit of approximately $15,000.  Simple math will tell me that my goal may be unrealistic, although it is ultimately possible, while my realistic expectation still provides me with a very acceptable, and effective, profit.  

So, while the goal of the sanctions may be to reduce Iran's exports to zero, the reality has already been:

Vowing “swift, severe penalties” to those caught violating sanctions, Pompeo said the U.S. pressure’s campaign has cost Iran $2.5 billion in oil revenue since May.

Considering the revenue stream of Iran, that's been a pretty effective achievement, even before the sanctions had been re-imposed.

i am working for Indian Petroleum Industry.... and I dont see much threat.... to India.. Govt of India officials have been working hard to resolve this issue... and they have been sucessful