Iran says may stop oil sales if sanctions tighten

[DonViejo]

Source: Reuters

(Reuters) - Iran said on Tuesday it would stop oil exports if pressure from Western sanctions got any tighter and it had a "Plan B" contingency strategy to survive without oil revenues.

Western nations led by the United States have imposed tough sanctions on the Islamic Republic this year in an attempt to curb its nuclear program that they say is designed to produce an atomic bomb. Tehran says its nuclear plans are peaceful. "If sanctions intensify we will stop exporting oil," Iranian oil minister Rostam Qasemi told reporters in Dubai.

Qasemi's statement is the latest in a series of threats of retaliation by Tehran in response to the sanctions, which have heightened political tensions across the Middle East and, analysts say, led to a sharp drop in Iranian oil exports.

"We have prepared a plan to run the country without any oil revenues," Qasemi said, adding, "So far to date we haven't had any serious problems, but if the sanctions were to be renewed we would go for 'Plan B'.

more:
http://www.reuters.com/article/2012/10/23/us-iran-oil-idUSBRE89M0EP20121023

Read more: http://www.reuters.com/article/2012/10/23/us-iran-oil-idUSBRE89M0EP20121023

[barnabas63]

1. Oh well....

No one's supposed to be buying it anyway, are they??

[dipsydoodle]

10. Support for the sanctions isn't universal.

Last edited Tue Oct 23, 2012, 09:21 AM - Edit history (1)

.

[pampango]

11. Iran is currently relying on oil exports to China, India, South Korea, Japan and Turkey.

In a report on Friday, the International Energy Agency (IEA) estimated Iranian exports falling to a new low of 860,0000 bpd (barrels per day) in September, a huge plunge from 2.2 million bpd at the end of 2011.

Industry sources said on Friday Iranian shipments may fall further in coming months as its tanker fleet has been struggling to meet delivery schedules and customers have found securing adequate insurance cover a challenge.

"The Asian buyers have shipping issues around deliveries," said a source with a company that used to buy Iranian oil. "If they don't find solutions around shipping, we may see a further decline in exports."

"Iranian volumes in Europe have been replaced mainly by Saudi barrels and Iraqi barrels," said Thomas Waymel, senior VP of crude supply and trading at Total's trading arm Totsa, at a conference in Geneva this week. He estimated Iranian exports fell to around 1 million bpd in the third quarter.

http://www.reuters.com/article/2012/10/12/us-iran-oil-exports-idUSBRE89B0Q020121012

Just weeks after the election, U.S. President Barack Obama will be faced with a pivotal decision on oil sanctions on Iran, in which he will have to balance the need to stay tough on Tehran without pushing oil prices too high.

In considering whether to extend a new series of six-month exemptions to Washington's oil sanctions, the administration must decide whether China, India, South Korea and other nations have done enough to wean themselves from Iranian oil.

The sanctions require that importers must demonstrate that they are making "significant" reductions every six months, as measured by volume and price. What constitutes a "significant" reduction is at the administration's discretion.

http://www.reuters.com/article/2012/10/22/usa-iran-sanctions-idUSL1E8LMMC720121022

[global1]

2. Is That Kind Of Like Self Deportation?....

Sounds like self sanctioning on their part to me. Maybe the other oil producing countries will take up the slack & take advantage of the situation to make some extra money. I'm thinking that Iran's Plan B can hurt them more than hurting us.

[OKNancy]

3. bluster n/t

[liberal N proud]

4. Sanctions are working!

[Berlum]

5. "Use your enemy's hand to catch a snake."

“In the hour of adversity be not without hope for rain falls from black clouds”

Persian Proverbs
?1345041328

[Kolesar]

6. That's a cool looking room

Is that a mosaic?

[madrchsod]

7. what is the west going to do without iranian oil?

are americans willing to pay 5 or more dollars a gallon for gasoline to prove a point to the religous zealots who run iran?

[erpowers]

8. Romney's Statement on Iranian Sanctions

When Romney stated he would tighten sanctions and put further limits on Iranian oil exports my thought was that is likely to increase the price of oil. So, how was Romney going to bring down the price of gas if he was going to reduce the supply of oil.

I understand a number of experts say the President does not control the price of gas. I am responding to what Romney has said about his policies.

[Ikonoklast]

9. Go ahead, stop. Your economy will crash inside of three months.

Do these people even believe one thing they say?

Iran needs oil revenue more than we need their oil...the rest of the world can get by without Iranian oil, but Iran 100% needs that revenue to even exist.

[DhhD]

12. Japan had a severe depression in the early 1930s that lead to a military coup and take over.

Japan made several economic mistakes and could not recover unless it forced its trade policies on China and Mongolia. This broke with neutrality acts around the world. The U.S., U.K., Holland, and Mexico set in place an Oil Embargo to Japan in 1938.

Romney said at the debate last night, that he would make the sanctions against Iran even tougher. Did he infer that his policy was to make Iran (like Japan) start a war? I believe Romney cares nothing about the innocent people of Iran, our children who would have to go off to war and the economy of American taxpayers who would have to pay for another war. Instead of WMD-Weapons of Mass Destruction, this time the Right Wing could say that Iran STARTED the war.

During 1930-37, Japan had undergone bad politics; depression, currency returning to a gold standard so the yen was not exchangeable, no one to buy their exports, famine in 1933, military coups, a military take over, and military expansion because of no natural resources (fuel needs).

And the Oil Embargo of 1938 sealed the deal. In 1938, Congress refused FDR's neutrality decisions and nailed the final blow to Japan.

The Obama Administration and our allies are setting the sanctions against Iran that are not to tough but are just right. Hope we have learned something from the past.

[Sunlei]

13. NP, better quality crude from Africa and Russia anyway.

[primavera]

14. Right, they're going to have a bake sale. - n/t

[lonestarnot]

15. Mittwitt has commissioned them for sale of magic drawers.

[-LOKI -BAD FOR YA]

16. this is part of major policy shift

we may find out the nyt story may be true.iran cannot support syria and hezbollah when they are having problems at home.you can get alot done with competent leadership.we may get middle east peace and immigration reform in obama second term ,faith with action is a great combination.