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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

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honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Jan 25, 2013 4:48:36 AM Ignore honda0105 Report Abuse 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 Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Jan 24, 2013 4:55:21 AM Ignore honda0105 Report Abuse we're driving Iran into a corner. Not a good thing.
ciimike Champion Author Nevada Posts:4,638 Points:1,061,310 Joined:Aug 2005	Message Posted: Jan 22, 2013 9:21:17 AM Ignore ciimike Report Abuse I foresee more engagements of terrorist activities in our future.
remay Champion Author Houston Posts:6,943 Points:2,113,390 Joined:May 2006	Message Posted: Jan 22, 2013 5:53:36 AM Ignore remay Report Abuse We'll see... I wouldn't hold my breath...
dudleydolittle Champion Author Cleveland Posts:4,410 Points:588,045 Joined:Sep 2011	Message Posted: Jan 22, 2013 5:39:26 AM Ignore dudleydolittle Report Abuse ok...
CIWS Champion Author London Posts:2,414 Points:580,190 Joined:Feb 2011	Message Posted: Jan 22, 2013 1:09:40 AM Ignore CIWS Report Abuse How do say Iran push back? Backed into a corner a rat fights.
Zonk Champion Author Michigan Posts:6,461 Points:2,098,765 Joined:Oct 2005	Message Posted: Jan 21, 2013 11:41:58 PM Ignore Zonk Report Abuse More exports to China, India, and like countries will weaken this sanction.
suzmar Champion Author Texas Posts:2,208 Points:869,060 Joined:Jun 2006	Message Posted: Jan 21, 2013 11:33:06 PM Ignore suzmar Report Abuse Could we get some fresh news?
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Jan 21, 2013 11:31:00 PM Ignore tedjm1 Report Abuse Only if the countrries follow the rule.
jkpsr Champion Author New Jersey Posts:4,069 Points:1,099,105 Joined:Jun 2005	Message Posted: Jan 21, 2013 11:30:47 PM Ignore jkpsr Report Abuse Keep tightening the noose.
crreed1 Champion Author West Virginia Posts:1,965 Points:2,522,335 Joined:May 2005	Message Posted: Jan 21, 2013 11:29:38 PM Ignore crreed1 Report Abuse we will see
comprof Champion Author Houston Posts:6,839 Points:1,352,750 Joined:Jul 2009	Message Posted: Jan 21, 2013 11:25:26 PM Ignore comprof Report Abuse The quicker the better!
unicornpmb Champion Author Buffalo Posts:8,471 Points:1,625,515 Joined:Sep 2005	Message Posted: Jan 21, 2013 11:25:13 PM Ignore unicornpmb Report Abuse Just can't see China going along with this.
gasmack Champion Author Ventura Posts:1,692 Points:664,415 Joined:Feb 2011	Message Posted: Jan 21, 2013 11:23:30 PM Ignore gasmack Report Abuse Hope they feel the pinch and it makes them see reality
defiancegasman Champion Author Ohio Posts:7,069 Points:1,321,210 Joined:May 2006	Message Posted: Jan 21, 2013 11:22:52 PM Ignore defiancegasman Report Abuse 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 Posts:898 Points:274,445 Joined:Jun 2012	Message Posted: Jan 21, 2013 11:22:41 PM Ignore VanIsleLes Report Abuse ok
AKmailman Champion Author Alaska Posts:5,612 Points:1,553,565 Joined:Jul 2004	Message Posted: Jan 21, 2013 11:21:59 PM Ignore AKmailman Report Abuse Putin and the KGB will help them out
JeffersonState All-Star Author Oregon Posts:626 Points:151,615 Joined:Dec 2012	Message Posted: Jan 21, 2013 11:21:52 PM Ignore JeffersonState Report Abuse 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 Posts:2,387 Points:527,400 Joined:Nov 2011	Message Posted: Jan 21, 2013 11:21:19 PM Ignore KrsnaDragon Report Abuse Interesting.
boatfloyd Champion Author Jacksonville Posts:1,698 Points:383,975 Joined:Mar 2012	Message Posted: Jan 21, 2013 11:20:13 PM Ignore boatfloyd Report Abuse Good
HEBster Champion Author Kentucky Posts:8,768 Points:2,370,025 Joined:May 2006	Message Posted: Jan 21, 2013 11:18:13 PM Ignore HEBster Report Abuse Among other things(hopefully)!!!
skybiker Champion Author South Carolina Posts:7,272 Points:1,555,415 Joined:Jul 2008	Message Posted: Jan 21, 2013 11:18:06 PM Ignore skybiker Report Abuse One can only hope!!
bridgerunner Champion Author Virginia Posts:4,767 Points:1,002,835 Joined:Jul 2009	Message Posted: Jan 21, 2013 11:17:22 PM Ignore bridgerunner Report Abuse I hope they feel the squeeze.
MotoDad Champion Author Phoenix Posts:1,106 Points:811,565 Joined:Sep 2006	Message Posted: Jan 21, 2013 11:16:30 PM Ignore MotoDad Report Abuse they will get it somehow.
jtfftj Champion Author New Hampshire Posts:2,167 Points:1,244,400 Joined:Sep 2005	Message Posted: Jan 21, 2013 11:16:25 PM Ignore jtfftj Report Abuse Dream on.
gsayeg1 All-Star Author Milwaukee Posts:769 Points:138,815 Joined:Jun 2008	Message Posted: Jan 21, 2013 11:15:46 PM Ignore gsayeg1 Report Abuse could not happen to a nicer bunch of guys
Dailyrun Champion Author Kentucky Posts:1,962 Points:384,840 Joined:Apr 2012	Message Posted: Jan 21, 2013 11:15:26 PM Ignore Dailyrun Report Abuse Did they think it would last forever?
Toppers Champion Author Atlanta Posts:8,992 Points:2,466,695 Joined:Mar 2005	Message Posted: Jan 21, 2013 11:14:28 PM Ignore Toppers Report Abuse Let's hope!
joel27nc Champion Author Raleigh Posts:10,517 Points:1,854,370 Joined:Mar 2008	Message Posted: Jan 21, 2013 11:13:45 PM Ignore joel27nc Report Abuse So they stopped the cash and gold; what's next, silver?
carinthuist Champion Author San Francisco Posts:2,221 Points:326,010 Joined:Mar 2012	Message Posted: Jan 21, 2013 11:12:03 PM Ignore carinthuist Report Abuse about time
Quick68 Champion Author Columbus Posts:8,178 Points:1,221,800 Joined:Dec 2009	Message Posted: Jan 21, 2013 11:11:22 PM Ignore Quick68 Report Abuse Iran is still running the USA.
dudleydolittle Champion Author Cleveland Posts:4,410 Points:588,045 Joined:Sep 2011	Message Posted: Jan 21, 2013 11:10:54 PM Ignore dudleydolittle Report Abuse old
bikechuck Champion Author Indianapolis Posts:6,990 Points:2,059,120 Joined:Apr 2006	Message Posted: Jan 21, 2013 11:08:33 PM Ignore bikechuck Report Abuse 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 Posts:2,672 Points:534,045 Joined:Jun 2011	Message Posted: Jan 21, 2013 11:07:36 PM Ignore PrinceLH Report Abuse They need a good whacking!
Darwin00 All-Star Author Mississippi Posts:827 Points:266,345 Joined:Dec 2010	Message Posted: Jan 21, 2013 11:06:13 PM Ignore Darwin00 Report Abuse Interesting!
rahcat Champion Author Grand Rapids Posts:2,448 Points:658,950 Joined:Jan 2010	Message Posted: Jan 21, 2013 11:05:07 PM Ignore rahcat Report Abuse Tighten the screws on Iran.
gasguzler4667 Sophomore Author Ottawa Posts:202 Points:10,210 Joined:Nov 2012	Message Posted: Jan 21, 2013 11:04:10 PM Ignore gasguzler4667 Report Abuse AH TOO BAD.
cheaper0ON All-Star Author Ontario Posts:963 Points:394,055 Joined:Jan 2012	Message Posted: Jan 21, 2013 11:03:58 PM Ignore cheaper0ON Report Abuse Good.
bluegrasser1 Champion Author Richmond Posts:15,913 Points:2,611,620 Joined:Sep 2005	Message Posted: Jan 21, 2013 11:03:47 PM Ignore bluegrasser1 Report Abuse ok
Blue_Cruzer Champion Author Lexington Posts:7,500 Points:1,665,585 Joined:Mar 2007	Message Posted: Jan 21, 2013 11:02:07 PM Ignore Blue_Cruzer Report Abuse China and other far eastern countries are buying up all they can.
SparkieMi Champion Author Kalamazoo Posts:3,239 Points:584,220 Joined:Sep 2011	Message Posted: Jan 21, 2013 10:59:17 PM Ignore SparkieMi Report Abuse Surprise, surprise....
Chris46 Champion Author Dayton Posts:23,635 Points:2,077,565 Joined:Sep 2005	Message Posted: Jan 21, 2013 10:57:58 PM Ignore Chris46 Report Abuse Squeeze them hard
rjoeh Champion Author Michigan Posts:7,061 Points:2,466,215 Joined:Jun 2004	Message Posted: Jan 21, 2013 10:56:56 PM Ignore rjoeh Report Abuse They could, but I doubt the current administration could live up to doing what is needed.
Is246 Champion Author Albuquerque Posts:1,007 Points:425,045 Joined:Apr 2011	Message Posted: Jan 21, 2013 10:53:26 PM Ignore Is246 Report Abuse bout time.
DrGasPain Veteran Author Dallas Posts:362 Points:455,200 Joined:Mar 2011	Message Posted: Jan 21, 2013 10:50:04 PM Ignore DrGasPain Report Abuse 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 Posts:1,757 Points:640,400 Joined:Feb 2010	Message Posted: Jan 21, 2013 10:47:09 PM Ignore bonzoonfmb Report Abuse All these measures will not make any difference or influence Iran in any way.
BREW9 All-Star Author Tampa Posts:861 Points:2,908,830 Joined:Jun 2004	Message Posted: Jan 21, 2013 10:42:55 PM Ignore BREW9 Report Abuse good
mcmonsta Champion Author Honolulu Posts:3,212 Points:814,770 Joined:Sep 2009	Message Posted: Jan 21, 2013 10:42:30 PM Ignore mcmonsta Report Abuse its only for a short time before they find more buyers
RAKARWOWSKI Champion Author Chicago Posts:3,980 Points:817,125 Joined:Jan 2011	Message Posted: Jan 21, 2013 10:38:44 PM Ignore RAKARWOWSKI Report Abuse I would like to hug Iran to death.
blazerbob91 Champion Author Milwaukee Posts:6,125 Points:1,879,670 Joined:Aug 2005	Message Posted: Jan 21, 2013 10:38:04 PM Ignore blazerbob91 Report Abuse Another crazy dictator run country