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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
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honda0105
Champion Author Tallahassee

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Message Posted: Jan 25, 2013 3:48:36 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?
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honda0105
Champion Author Tallahassee

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Message Posted: Jan 24, 2013 3:55:21 AM

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

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Message Posted: Jan 22, 2013 8:21:17 AM

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

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Message Posted: Jan 22, 2013 4:53:36 AM

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

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Message Posted: Jan 22, 2013 4:39:26 AM

ok...
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CIWS
Champion Author London

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Message Posted: Jan 22, 2013 12:09:40 AM

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

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Message Posted: Jan 21, 2013 10:41:58 PM

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

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Message Posted: Jan 21, 2013 10:33:06 PM

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

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Message Posted: Jan 21, 2013 10:31:00 PM

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

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Message Posted: Jan 21, 2013 10:30:47 PM

Keep tightening the noose.
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crreed1
Champion Author West Virginia

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Message Posted: Jan 21, 2013 10:29:38 PM

we will see
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comprof
Champion Author Houston

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Message Posted: Jan 21, 2013 10:25:26 PM

The quicker the better!
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unicornpmb
Champion Author Buffalo

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Message Posted: Jan 21, 2013 10:25:13 PM

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

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Message Posted: Jan 21, 2013 10:23:30 PM

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

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Message Posted: Jan 21, 2013 10:22:52 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???
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VanIsleLes
All-Star Author British Columbia

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Message Posted: Jan 21, 2013 10:22:41 PM

ok
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AKmailman
Champion Author Alaska

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

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

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Message Posted: Jan 21, 2013 10:21:52 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.
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KrsnaDragon
Champion Author Montreal

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Message Posted: Jan 21, 2013 10:21:19 PM

Interesting.
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boatfloyd
Champion Author Jacksonville

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Message Posted: Jan 21, 2013 10:20:13 PM

Good
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HEBster
Champion Author Kentucky

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Message Posted: Jan 21, 2013 10:18:13 PM

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

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Message Posted: Jan 21, 2013 10:18:06 PM

One can only hope!!
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bridgerunner
Champion Author Virginia

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Message Posted: Jan 21, 2013 10:17:22 PM

I hope they feel the squeeze.
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MotoDad
Champion Author Phoenix

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Message Posted: Jan 21, 2013 10:16:30 PM

they will get it somehow.
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jtfftj
Champion Author New Hampshire

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Message Posted: Jan 21, 2013 10:16:25 PM

Dream on.
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gsayeg1
Champion Author Milwaukee

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Message Posted: Jan 21, 2013 10:15:46 PM

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

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Message Posted: Jan 21, 2013 10:15:26 PM

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

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Message Posted: Jan 21, 2013 10:14:28 PM

Let's hope!
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joel27nc
Champion Author Raleigh

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Message Posted: Jan 21, 2013 10:13:45 PM

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

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Message Posted: Jan 21, 2013 10:12:03 PM

about time
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Quick68
Champion Author Columbus

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Message Posted: Jan 21, 2013 10:11:22 PM

Iran is still running the USA.
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dudleydolittle
Champion Author Cleveland

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

old
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bikechuck
Champion Author Indianapolis

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Message Posted: Jan 21, 2013 10:08:33 PM

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

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Message Posted: Jan 21, 2013 10:07:36 PM

They need a good whacking!
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Darwin00
Champion Author Mississippi

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Message Posted: Jan 21, 2013 10:06:13 PM

Interesting!
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rahcat
Champion Author Grand Rapids

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Message Posted: Jan 21, 2013 10:05:07 PM

Tighten the screws on Iran.
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gasguzler4667
Sophomore Author Ottawa

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

AH TOO BAD.
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cheaper0ON
Champion Author Ontario

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Message Posted: Jan 21, 2013 10:03:58 PM

Good.
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bluegrasser1
Champion Author Richmond

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Message Posted: Jan 21, 2013 10:03:47 PM

ok
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Blue_Cruzer
Champion Author Lexington

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Message Posted: Jan 21, 2013 10:02:07 PM

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

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Message Posted: Jan 21, 2013 9:59:17 PM

Surprise, surprise....
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Chris46
Champion Author Dayton

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Message Posted: Jan 21, 2013 9:57:58 PM

Squeeze them hard
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rjoeh
Champion Author Michigan

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Message Posted: Jan 21, 2013 9:56:56 PM

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

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Message Posted: Jan 21, 2013 9:53:26 PM

bout time.
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DrGasPain
All-Star Author Dallas

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Message Posted: Jan 21, 2013 9:50:04 PM

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

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Message Posted: Jan 21, 2013 9:47:09 PM

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

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Message Posted: Jan 21, 2013 9:42:55 PM

good
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mcmonsta
Champion Author Honolulu

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Message Posted: Jan 21, 2013 9:42:30 PM

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

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Message Posted: Jan 21, 2013 9:38:44 PM

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

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Message Posted: Jan 21, 2013 9:38:04 PM

Another crazy dictator run country
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Buddy2264
Champion Author Tampa

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Message Posted: Jan 21, 2013 9:38:03 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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