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GasBuddy News Article

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Iran could begin feeling a further squeeze on its oil income soon

Washington Post -- Ever since European seaports closed their gates to Iranian oil tankers last summer, Iran has looked to the East to keep its economy afloat. Countries such as China, India and South Korea — some of them critics of Western sanctions — have offered Iran a lifeline of reliable markets and much-needed dollars.

But perhaps not for long. In just over two weeks, the Obama administration will begin enforcing a little-noticed statute that could dry up one of Iran’s largest remaining sources of oil income, U.S. officials say. Beginning Feb. 6, Iran still will get paid for the oil it delivers to Asian markets, from Mumbai to Shanghai to Pusan — only not in cash.

The law, part of a package of sanctions approved last year, requires that foreign governments keep any payments for Iranian oil locked up i


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Submitted Jan 21, 2013 By: bar1035
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Iran could begin feeling a further squeeze on its oil income soon Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Jan 25, 2013 4:48:36 AM

while we piddle around w/ Iran and N. Korea, our allies in Europe and elsewhere are suffering severely under the economic problems. Maybe it's time to turn the attention to them?
honda0105
Champion Author Tallahassee

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Message Posted: Jan 24, 2013 4:55:21 AM

we're driving Iran into a corner. Not a good thing.
ciimike
Champion Author Nevada

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Message Posted: Jan 22, 2013 9:21:17 AM

I foresee more engagements of terrorist activities in our future.
remay
Champion Author Houston

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Message Posted: Jan 22, 2013 5:53:36 AM

We'll see... I wouldn't hold my breath...
dudleydolittle
Champion Author Cleveland

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Message Posted: Jan 22, 2013 5:39:26 AM

ok...
CIWS
Champion Author London

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Message Posted: Jan 22, 2013 1:09:40 AM

How do say Iran push back? Backed into a corner a rat fights.
Zonk
Champion Author Michigan

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Message Posted: Jan 21, 2013 11:41:58 PM

More exports to China, India, and like countries will weaken this sanction.
suzmar
Champion Author Texas

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Message Posted: Jan 21, 2013 11:33:06 PM

Could we get some fresh news?
tedjm1
Champion Author New York

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Message Posted: Jan 21, 2013 11:31:00 PM

Only if the countrries follow the rule.
jkpsr
Champion Author New Jersey

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Message Posted: Jan 21, 2013 11:30:47 PM

Keep tightening the noose.
crreed1
Champion Author West Virginia

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Message Posted: Jan 21, 2013 11:29:38 PM

we will see
comprof
Champion Author Houston

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Message Posted: Jan 21, 2013 11:25:26 PM

The quicker the better!
unicornpmb
Champion Author Buffalo

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Message Posted: Jan 21, 2013 11:25:13 PM

Just can't see China going along with this.
gasmack
Champion Author Ventura

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Message Posted: Jan 21, 2013 11:23:30 PM

Hope they feel the pinch and it makes them see reality
defiancegasman
Champion Author Ohio

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Message Posted: Jan 21, 2013 11:22:52 PM

I like the idea in theory, but how is the US Government going to ENFORCE the trade and banking practices of OTHER COUNTRIES when we are not really involved in the trade???
VanIsleLes
All-Star Author British Columbia

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Message Posted: Jan 21, 2013 11:22:41 PM

ok
AKmailman
Champion Author Alaska

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Message Posted: Jan 21, 2013 11:21:59 PM

Putin and the KGB will help them out
JeffersonState
Champion Author Oregon

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Message Posted: Jan 21, 2013 11:21:52 PM

With that government who knows what they might do as a result. Too bad the people cannot take the power away from that government.
KrsnaDragon
Champion Author Montreal

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Message Posted: Jan 21, 2013 11:21:19 PM

Interesting.
boatfloyd
Champion Author Jacksonville

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Message Posted: Jan 21, 2013 11:20:13 PM

Good
HEBster
Champion Author Kentucky

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Message Posted: Jan 21, 2013 11:18:13 PM

Among other things(hopefully)!!!
skybiker
Champion Author South Carolina

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Message Posted: Jan 21, 2013 11:18:06 PM

One can only hope!!
bridgerunner
Champion Author Virginia

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Message Posted: Jan 21, 2013 11:17:22 PM

I hope they feel the squeeze.
MotoDad
Champion Author Phoenix

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Message Posted: Jan 21, 2013 11:16:30 PM

they will get it somehow.
jtfftj
Champion Author New Hampshire

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Message Posted: Jan 21, 2013 11:16:25 PM

Dream on.
gsayeg1
Champion Author Milwaukee

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Message Posted: Jan 21, 2013 11:15:46 PM

could not happen to a nicer bunch of guys
Dailyrun
Champion Author Kentucky

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Message Posted: Jan 21, 2013 11:15:26 PM

Did they think it would last forever?
Toppers
Champion Author Atlanta

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Message Posted: Jan 21, 2013 11:14:28 PM

Let's hope!
joel27nc
Champion Author Raleigh

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Message Posted: Jan 21, 2013 11:13:45 PM

So they stopped the cash and gold; what's next, silver?
carinthuist
Champion Author San Francisco

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Message Posted: Jan 21, 2013 11:12:03 PM

about time
Quick68
Champion Author Columbus

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Message Posted: Jan 21, 2013 11:11:22 PM

Iran is still running the USA.
dudleydolittle
Champion Author Cleveland

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Message Posted: Jan 21, 2013 11:10:54 PM

old
bikechuck
Champion Author Indianapolis

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Message Posted: Jan 21, 2013 11:08:33 PM

How is the Obama administration going to enforce our statute on other nations? Looks good on paper but is it practical?
PrinceLH
Champion Author Ontario

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Message Posted: Jan 21, 2013 11:07:36 PM

They need a good whacking!
Darwin00
Champion Author Mississippi

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Message Posted: Jan 21, 2013 11:06:13 PM

Interesting!
rahcat
Champion Author Grand Rapids

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Message Posted: Jan 21, 2013 11:05:07 PM

Tighten the screws on Iran.
gasguzler4667
Sophomore Author Ottawa

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Message Posted: Jan 21, 2013 11:04:10 PM

AH TOO BAD.
cheaper0ON
Champion Author Ontario

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Message Posted: Jan 21, 2013 11:03:58 PM

Good.
bluegrasser1
Champion Author Richmond

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Message Posted: Jan 21, 2013 11:03:47 PM

ok
Blue_Cruzer
Champion Author Lexington

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Message Posted: Jan 21, 2013 11:02:07 PM

China and other far eastern countries are buying up all they can.
SparkieMi
Champion Author Kalamazoo

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Message Posted: Jan 21, 2013 10:59:17 PM

Surprise, surprise....
Chris46
Champion Author Dayton

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Message Posted: Jan 21, 2013 10:57:58 PM

Squeeze them hard
rjoeh
Champion Author Michigan

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Message Posted: Jan 21, 2013 10:56:56 PM

They could, but I doubt the current administration could live up to doing what is needed.
Is246
Champion Author Albuquerque

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Message Posted: Jan 21, 2013 10:53:26 PM

bout time.
DrGasPain
All-Star Author Dallas

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Message Posted: Jan 21, 2013 10:50:04 PM

Obama approve measures like this that will hurt his Muslim brothers, come on, get real. I'll believe it when I see it.
bonzoonfmb
Champion Author Florida

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Message Posted: Jan 21, 2013 10:47:09 PM

All these measures will not make any difference or influence Iran in any way.
BREW9
Champion Author Tampa

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Message Posted: Jan 21, 2013 10:42:55 PM

good
mcmonsta
Champion Author Honolulu

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Message Posted: Jan 21, 2013 10:42:30 PM

its only for a short time before they find more buyers
RAKARWOWSKI
Champion Author Chicago

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Message Posted: Jan 21, 2013 10:38:44 PM

I would like to hug Iran to death.
blazerbob91
Champion Author Milwaukee

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Message Posted: Jan 21, 2013 10:38:04 PM

Another crazy dictator run country
Buddy2264
Champion Author Tampa

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Message Posted: Jan 21, 2013 10:38:03 PM

So far it has not seemed to raise our prices. In time their oil will come back on the market when they give up on their ambitions.
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