Right now Turkey is generating revenue as a transit route from Russia to EU. No reason why Pakistan cannot do the same with Iranian natural gas. You realize Iran has more natural gas than any country in the world ?
For Pakistan, during peacetime with India, why not let the India contribute towards your defense budget ? Just seems like the natural thing to do for Pakistan.
Well despite US sanctions Iran is supplying oil to China, 1 million barrels a day. Those are official numbers and recently China rejected a US initiative to cease or reduce Iranian energy sales.
Venezuela, where Iranian diesel is traded for Venezuelan heavy crude and then Iranian tankers that unload the Iranian Diesel go to China again to drop off the heavy crude.
Then in the region right now Iran is supplying Afghanistan, Syria, Lebanon.
Now that's just in terms of what is admitted in the media. Behind closed doors, who knows.
In 2018, at first when Trump imposed harsh sanctions on Iran, it had a very negative and detrimental effect on Iran's economy. However now Iran has adjusted.
The reason why Iran can sell oil even without access to SWIFT or international banking is because Iran can accept foreign currency, gold, rice, wheat, any valuable commodity which is in demand, Iran will work out a deal.
At the end of the day, all modern and developing nations are completely reliant on some fuel source for power generation. Even with renewables, you still require fuel in the mix because the sun won't always shine and the wind won't always blow.
Right now, from what I've been able to gather, Iran is selling each barrel to China for a $2-$5 discount. That's not even a 10% discount but it's still significant enough to spark interest. Especially now during the winter and with EU, UK, China, Lebanon all experiencing energy issues.
I heard Putin is milking the EU for every last drop. However it's their own fault. Countries like Poland or Hungary, who signed long term deals with Russia are now NOTt seeing a surge in prices. The countries who said NO to long term deals with Russia are the ones who are now paying 200% more.
I mean they could always say no to Russia and end up paying 3 times more for American Liquified Natural Gas, freedom gas, but that's their choice.
Seems like I spoke too soon, Natural Gas prices just tore through a strong resistance line, that means we're likely seeing the same prices as 2008. It's going to be a cold winter. damn.
View attachment 785602