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Iran Clings to Asian Oil Market as Sanctions Bite

Time -- When Iran welcomes leaders to a world gathering next week, few will get a grander reception than India’s prime minister. As Tehran tries to offset the squeeze from Western oil sanctions, there is no greater priority than courting energy-hungry Asian markets.

The planned visit by Manmohan Singh, the first by an Indian prime minister in more than a decade, puts into sharp relief the sanctions-easing strategies by Iran — and the political complexities for Washington that limit its pressure on Asian powers needing Tehran’s oil.

Oil purchases by India, China and South Korea — which decided this week to resume Iranian imports — have not covered Tehran’s losses after it was tossed out of the European market in July. But they have given Iran a critical cushion that brings in tens of millions of

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Submitted Aug 23, 2012 By: EZExit

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honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Aug 27, 2012 2:57:53 AM Ignore honda0105 Report Abuse well, WW3 is supposed to start in the Middle East. That may be it..
honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Aug 27, 2012 2:56:23 AM Ignore honda0105 Report Abuse China has the monetary power to demand low prices. Gonna hurt Iran badly though.
Metrolizer Champion Author Fort Worth Posts:2,023 Points:2,231,465 Joined:Feb 2005	Message Posted: Aug 23, 2012 8:14:26 PM Ignore Metrolizer Report Abuse >> Some Israeli leaders have indicated a military attack is a possibility if they conclude the international community has failed to halt Iran’s uranium enrichment. <<
pgerassi Champion Author Milwaukee Posts:11,031 Points:2,158,270 Joined:Apr 2007	Message Posted: Aug 23, 2012 7:24:39 PM Ignore pgerassi Report Abuse BURN THEM.
my2002m Champion Author Tulsa Posts:6,208 Points:1,697,005 Joined:Jul 2008	Message Posted: Aug 23, 2012 5:08:03 PM Ignore my2002m Report Abuse Not surprised. At the right price China will buy anything.
n3tbc Veteran Author Wilmington Posts:355 Points:333,575 Joined:Sep 2011	Message Posted: Aug 23, 2012 1:23:40 PM Ignore n3tbc Report Abuse ok
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Aug 23, 2012 9:52:21 AM Ignore knutzAL Report Abuse k
leemun Champion Author Utah Posts:5,677 Points:1,066,790 Joined:May 2010	Message Posted: Aug 23, 2012 9:24:30 AM Ignore leemun Report Abuse China would choose it, India must choose it, but shame on S. Korea.
OldMan322 Champion Author Illinois Posts:5,282 Points:1,621,155 Joined:Jul 2008	Message Posted: Aug 23, 2012 8:17:43 AM Ignore OldMan322 Report Abuse India, China & S Korea should be looking at the high cost to them to do this
VomVom Champion Author Calgary Posts:3,863 Points:1,647,725 Joined:May 2007	Message Posted: Aug 23, 2012 8:08:00 AM Ignore VomVom Report Abuse India, China & S Korea are more concerned about their economies than Iran's nuclear ambitions. We'd had better strengthened our economies so that we are in a better position to withstand the Euro Zone crisis when the tsunami hits us from across the pond.
doctorindyj Champion Author Santa Fe Posts:3,538 Points:864,310 Joined:Nov 2009	Message Posted: Aug 23, 2012 8:02:34 AM Ignore doctorindyj Report Abuse SO they are still bringing in money for their oil but the sanctions are working? I guess the 'author' has a good sense of humor.
otherdave Champion Author Indiana Posts:3,530 Points:1,295,885 Joined:Oct 2008	Message Posted: Aug 23, 2012 7:43:47 AM Ignore otherdave Report Abuse So much for our "allies"
jorobins538 Champion Author Chicago Posts:4,742 Points:643,570 Joined:Sep 2009	Message Posted: Aug 23, 2012 7:43:15 AM Ignore jorobins538 Report Abuse but it must be hurting them
tes283 All-Star Author Tampa Posts:865 Points:368,850 Joined:Dec 2011	Message Posted: Aug 23, 2012 7:34:32 AM Ignore tes283 Report Abuse sigh...so much for boycotts to control Iran....oh well.
Mariuxus Champion Author Chicago Posts:3,887 Points:1,897,530 Joined:May 2007	Message Posted: Aug 23, 2012 7:32:52 AM Ignore Mariuxus Report Abuse Wow..what a company...
Wizrd03 Champion Author Illinois Posts:8,288 Points:1,659,060 Joined:Oct 2008	Message Posted: Aug 23, 2012 7:27:57 AM Ignore Wizrd03 Report Abuse India & South Korea - our supposed allies - cut them off too....
PathTrack Champion Author Twin Cities Posts:1,204 Points:135,055 Joined:Jan 2005	Message Posted: Aug 23, 2012 7:21:49 AM Ignore PathTrack Report Abuse These countries care not that Iran could obliterate them one day.
trugasCA Champion Author California Posts:4,104 Points:171,915 Joined:Mar 2011	Message Posted: Aug 23, 2012 7:20:25 AM Ignore trugasCA Report Abuse Keep the pressure on.
Hangnail309 Champion Author Manitoba Posts:6,158 Points:1,703,885 Joined:Aug 2006	Message Posted: Aug 23, 2012 7:19:48 AM Ignore Hangnail309 Report Abuse Presently, Iran will try to get around any restrictions one way or the other ...
BeaconLite Champion Author Ottawa Posts:2,075 Points:395,980 Joined:Sep 2009	Message Posted: Aug 23, 2012 7:19:46 AM Ignore BeaconLite Report Abuse More politics
WTLITNG Champion Author Virginia Posts:1,972 Points:1,041,390 Joined:Dec 2008	Message Posted: Aug 23, 2012 7:19:43 AM Ignore WTLITNG Report Abuse Iran's leader is one to watch; he is sly, conniving, and belongs in Congress!
HATinMUNDY Champion Author Michigan Posts:1,817 Points:790,470 Joined:Mar 2008	Message Posted: Aug 23, 2012 7:17:20 AM Ignore HATinMUNDY Report Abuse Time will tell, we shall see.....
Don20 Champion Author Oklahoma City Posts:9,809 Points:2,646,355 Joined:Mar 2005	Message Posted: Aug 23, 2012 7:15:55 AM Ignore Don20 Report Abuse Oil purchases by India, China and South Korea — which decided this week to resume Iranian imports — have not covered Tehran’s losses after it was tossed out of the European market in July. It was said before that sanctions would not work, this more or less confirms it.
kuang2011 All-Star Author Chicago Posts:734 Points:146,435 Joined:Aug 2012	Message Posted: Aug 23, 2012 7:15:47 AM Ignore kuang2011 Report Abuse ok
dad2two Champion Author Dallas Posts:3,649 Points:773,370 Joined:May 2010	Message Posted: Aug 23, 2012 7:15:05 AM Ignore dad2two Report Abuse India and China are looking after themselves, not the rest of the world.
JoeKR Champion Author New Jersey Posts:9,604 Points:1,761,590 Joined:Feb 2006	Message Posted: Aug 23, 2012 7:14:56 AM Ignore JoeKR Report Abuse China would be wise to make no nuke weapons a condition of their purchases - they are big enough to do so.
putz247 Champion Author Ohio Posts:2,300 Points:525,210 Joined:Aug 2011	Message Posted: Aug 23, 2012 7:12:27 AM Ignore putz247 Report Abuse wow
techque Champion Author St. Louis Posts:8,790 Points:2,443,655 Joined:Apr 2005	Message Posted: Aug 23, 2012 7:11:41 AM Ignore techque Report Abuse they take our jobs and our manufacturing, now they support our enemies. could this be any more clear ??
boldrph Champion Author Topeka Posts:18,528 Points:3,477,615 Joined:Oct 2002	Message Posted: Aug 23, 2012 7:11:36 AM Ignore boldrph Report Abuse dull and boring
run4gxc Champion Author Ohio Posts:2,755 Points:625,880 Joined:May 2011	Message Posted: Aug 23, 2012 7:09:26 AM Ignore run4gxc Report Abuse ok
goalie1950 Champion Author Phoenix Posts:6,545 Points:1,323,145 Joined:Oct 2009	Message Posted: Aug 23, 2012 7:08:54 AM Ignore goalie1950 Report Abuse If Obummer attends this meeting, I wonder if he's practicing his bowing routine? What an embarrassment this guy is as President. Hopefully this all changes in November.
jwalkerh Champion Author Louisiana Posts:6,197 Points:1,377,430 Joined:Oct 2008	Message Posted: Aug 23, 2012 7:08:32 AM Ignore jwalkerh Report Abuse There are always other options....
sivart Champion Author Arkansas Posts:18,387 Points:3,097,500 Joined:May 2004	Message Posted: Aug 23, 2012 7:06:32 AM Ignore sivart Report Abuse Throw a party and no one comes!!
TuanCanCook Champion Author Los Angeles Posts:20,342 Points:684,240 Joined:Jun 2011	Message Posted: Aug 23, 2012 7:06:06 AM Ignore TuanCanCook Report Abuse Money talks as a previous GB noted
manbig13 Champion Author Cleveland Posts:1,431 Points:557,475 Joined:May 2011	Message Posted: Aug 23, 2012 7:05:36 AM Ignore manbig13 Report Abuse ha
BlueVanGroup Champion Author Colorado Posts:7,341 Points:1,555,120 Joined:May 2008	Message Posted: Aug 23, 2012 7:04:41 AM Ignore BlueVanGroup Report Abuse The rest of the world laughs at our man-child president.
ibhenry Champion Author San Diego Posts:1,536 Points:463,345 Joined:Jun 2011	Message Posted: Aug 23, 2012 7:04:37 AM Ignore ibhenry Report Abuse ok
truckpdlr Champion Author Tucson Posts:3,081 Points:1,122,740 Joined:Sep 2009	Message Posted: Aug 23, 2012 7:04:16 AM Ignore truckpdlr Report Abuse Hope they have to discount deep and lower profits
bbreff Champion Author Atlanta Posts:9,983 Points:2,595,140 Joined:Jun 2005	Message Posted: Aug 23, 2012 7:03:38 AM Ignore bbreff Report Abuse Sanctions, they sure is working! ! ! HA HA HA
puinsai808 Champion Author Honolulu Posts:3,697 Points:754,030 Joined:May 2011	Message Posted: Aug 23, 2012 7:02:26 AM Ignore puinsai808 Report Abuse Money talks... unfortunately.
texashoudini Champion Author Austin Posts:2,680 Points:1,117,200 Joined:Jun 2009	Message Posted: Aug 23, 2012 7:01:52 AM Ignore texashoudini Report Abuse Iran will get around the restrictions one way or the other. Apparently these three countries don't see Iran as a threat.
Jamer Champion Author Las Vegas Posts:8,897 Points:1,662,985 Joined:Jul 2002	Message Posted: Aug 23, 2012 7:01:03 AM Ignore Jamer Report Abuse Nuke Iran and be done with these terrorists before they develop a nuclear warheads that reaches the US.
speedys Champion Author Utah Posts:7,152 Points:2,585,610 Joined:Nov 2005	Message Posted: Aug 23, 2012 7:00:57 AM Ignore speedys Report Abuse The situation there is going to get worse.
mikerroy Champion Author Albuquerque Posts:2,691 Points:747,175 Joined:May 2005	Message Posted: Aug 23, 2012 7:00:53 AM Ignore mikerroy Report Abuse ok
geezrtek Champion Author Michigan Posts:2,048 Points:449,760 Joined:Apr 2011	Message Posted: Aug 23, 2012 7:00:43 AM Ignore geezrtek Report Abuse Once again the Obama administration and the UN have failed to repeal the laws of economics. I am sure that Japan, South Korea and especially India do not think Iran with nuclear weapons is in their national interest. India is 80% Hindu and has fought 3 wars with the Muslim Pakistan. After Iran gets through making Israel glow in the dark, India is the next most inviting target. The problem is that those countries are all highly dependent on imported oil and there is just not enough world oil supply to get everyone the oil they need without Iranian crude. Even the Saudis don't have enough capacity available to make up the difference. While they may be using the sanctions to get price concessions from Iran those countries really don't have much choice but to do business with Iran.
throttle Champion Author Maryland Posts:11,982 Points:2,464,695 Joined:Jul 2004	Message Posted: Aug 23, 2012 7:00:29 AM Ignore throttle Report Abuse Noted.
AC-302 Champion Author Los Angeles Posts:26,845 Points:2,928,295 Joined:Aug 2004	Message Posted: Aug 23, 2012 6:59:52 AM Ignore AC-302 Report Abuse You can't trust India to go along with anything. Ditto China. But I'm surprised S. Korea is trading with the enemy. Don't they realize that funding Iran is funding N. Korean nuclear ambitions?
RogerB Champion Author Indianapolis Posts:18,227 Points:2,650,835 Joined:Dec 2005	Message Posted: Aug 23, 2012 6:59:31 AM Ignore RogerB Report Abuse of course china and india will buy from them but we need to quit buying from china and india!
lonewolfhead Champion Author Texas Posts:1,687 Points:585,160 Joined:Aug 2011	Message Posted: Aug 23, 2012 6:59:00 AM Ignore lonewolfhead Report Abuse ok
Seamus4513 Champion Author Orange County Posts:2,720 Points:413,305 Joined:Mar 2012	Message Posted: Aug 23, 2012 6:58:52 AM Ignore Seamus4513 Report Abuse It appears that they do.