http://www.debka.com/article/21669/
Always consider Debka with a grain of salt - however , if accurate , the data on the insignificance of the oil embargo is noteworthy ! China made it pretty clear that they had no intention of following the oil embargo - however , the reaction of India was eye-opening. South Korea appear to be giving lip service , but still intend to materially trade with Iran. Turkey once again demonstrates its independence from DC dictates - Europe , especially Greece , Italy and Spain need Iranian oil , which is provided in quanity and especially for Greece - good terms. such being the case , sanction appear a dead letter - thus the question could be , what does Israel chose to do and when ?
DEBKAfile's oil sources in Asia and Europe report that updated figures confirm how little traction the oil embargo campaign has achieved so far:
There is no evidence that China, Japan, South Korea, India, Turkey and the European Union members, which purchase in total 85 percent of Iran's total average export of 2.5 million barrels a day, have cancelled any part of their orders.
There is no evidence that China, Japan, South Korea, India, Turkey and the European Union members, which purchase in total 85 percent of Iran's total average export of 2.5 million barrels a day, have cancelled any part of their orders.
While China - which in 2011 bought from Iran 550,000 barrels a day, covering 11 percent of its oil – cut its orders down in January by 285,000, this had nothing to do with ab embargo. Beijing was simply exploiting the threat of an embargo to squeeze from Iran a discount on prices and reduction of its debt for previous purchases. China made it clear to the Security Council that is opposed to "sanctions, pressure and military threats" against Iran. After settling its price dispute with Tehran, China fully intends to return to its former level of trade, even if it decides to partially diversify its oil sources to Saudi Arabia following Chinese Premier Wen Jiabao's Middle East trip this month.
The European Union, which buys some 450,000 barrels per day from Iran, holds a special meeting Monday, Jan. 23, after failing last week to approve a cutback on purchases from Iran. Iran provides Greece, Italy and Spain respectively with about 25 percent, 13 percent and 10 percent of their oil. They are holding out for a very partial embargo and want it delayed until the end of 2012.
Japan, while pledging publicly to keep reducing its purchases of Iranian crude by 100,000 barrels a day, is waiting to see whether China and India join the ban. "The United States should try and talk more with India and China as they are the biggest buyers of Iranian crude," said Japan's foreign minister Koichiro Gemba this week, clearly passing the buck.
Japan, while pledging publicly to keep reducing its purchases of Iranian crude by 100,000 barrels a day, is waiting to see whether China and India join the ban. "The United States should try and talk more with India and China as they are the biggest buyers of Iranian crude," said Japan's foreign minister Koichiro Gemba this week, clearly passing the buck.
South Korea is only willing to forgo 40,000 bpd, but is asking for a waiver.
India's Foreign Secretary Ranjan Mathai said this week that India, which as Iran's second biggest buyer after China relies on Iran for 12 percent of its imports (3,500,000-4,000,000 bpd), will continue to trade with Tehran and not abide by sanctions.
In anticipation of a US-led ban on Iran's central bank, Delhi announced this week that the CBI would open an account with an Indian bank for receiving payment for its oil, partly in Indian rupees instead of US dollars.
Turkey, keen to position itself as broker between the West and Tehran and the venue for future nuclear negotiations, is maintaining its import level of 200,000 bpd of crude from Iran.
Turkey, keen to position itself as broker between the West and Tehran and the venue for future nuclear negotiations, is maintaining its import level of 200,000 bpd of crude from Iran.
Given the snaillike progress of the international oil sanctions campaign against Iran, the Israeli Prime Minister informed Gen. Dempsey Friday that he could not see his way to giving the Obama administration more time for these penalties to work. He stressed that the Islamic Republic's nuclear program had reached the critical point where time was of the essence for preempting a nuclear-armed Iran.
No comments:
Post a Comment