US clears India, 6 others from Iran oil sanctions

[faizahmad]

US have a sanction department where they keep on imposing Sanctions on countries

 

[Shardul.....the lion]

So the sanction is for Muslim countries....... Europe and Japan are free to get oil.... But developing countries which need resources should not seek them at cheaper cost because it does not fit US policies.

Malaysia is a muslim majority country which is given waiver from sanctions.

 

[mjnaushad]

Malaysia is a muslim majority country which is given waiver from sanctions.

Just developing countries then..... make it as difficult for them as possible to become a developed country.

 

[Hyde]

yes but under heavy parroting by US and by only 10%.. I do realize that it is not a very low figure, but we got what we wanted, an alternate supply from Arabs and our continued relation with Iran... Iran can see the picture that India withstood the pressure to a much longer period.... So what do you think now?

I think India is the only nation that has reduced oil imports by 10% and I am not being biased here... I do not know many nations that has fallen to US pressure yet

See US and Europe wanted to press Iran to abandon their nuclear program but perhaps Iran also realized that if there is any moment after second world war when US and Europe could not afford to fight a war it is this year 2012 when the Europe is suffering from economic turmoil and American growth rate is also very inconsistent. They wanted to alienate Iran but the oil market is so volatile that the rumour of banning Iranian oil and the worsening situation in Egypt and Libya had triggered the oil prices above $110 and that consequently means more inflation and higher unemployment rate in Europe and the whole world...

So if you notice the circumstances in Europe are so bad that they cannot afford to take another risk of going to war if they want to avoid further collapse. So the idea of imposing restrictions on Iran has already failed after Europe, Japan and India were granted exemption from the sanctions and the funny thing is these are the only nations that buys oil from Iran --- China buys oil from Iran but it didn't care very much about the sanctions yet.

 

[Shardul.....the lion]

Just developing countries then..... make it as difficult for them as possible to become a developed country.

Yes US is trying all tactics to keep developing nations remain underdeveloped, so no one can challenge the numero uno status.

If India (now) and China (future) are exempt from sanctions, then Iran will hardly face financial troubles.

 

[hello68]

Selective sanctions, Obama's strong foreign policy. ( sarcasm )

 

[SamantK]

I think India is the only nation that has reduced oil imports by 10% and I am not being biased here... I do not know many nations that has fallen to US pressure yet

See US and Europe wanted to press Iran to abandon their nuclear program but perhaps Iran also realized that if there is any moment after second world war when US and Europe could not afford to fight a war it is this year 2012 when the Europe is suffering from economic turmoil and American growth rate is also very inconsistent. They wanted to alienate Iran but the oil market is so volatile that the rumour of banning Iranian oil and the worsening situation in Egypt and Libya had triggered the oil prices above $110 and that consequently means more inflation and higher unemployment rate in Europe and the whole world...

So if you notice the circumstances in Europe are so bad that they cannot afford to take another risk of going to war if they want to avoid further collapse. So the idea of imposing restrictions on Iran has already failed after Europe, Japan and India were granted exemption from the sanctions and the funny thing is these are the only nations that buys oil from Iran --- China buys oil from Iran but it didn't care very much about the sanctions yet.

Can you substantiate with proof the claims you made?

 

[Hafizzz]

I was just thinking this is going to happen soon. They basically sanctioned Iran and then exempted the whole of Europe and Japan. In simple words, only non-Europeans was to suffer from sanctions against Iran

So I was hoping to see India and China being exempted too... China is the only major nation left and soon will get a waiver making the whole drama of sanctions useless.

couple of weeks ago, I was laughing with other oil traders that USA and Europe has a problem with Iran and they exempted themselves from the sanctions so what kind of sanctions are they

China is not being exempted :

China Is Excluded From Waivers for Oil Trade With Iran
http://www.nytimes.com/2012/06/12/w...sued-waiver-for-oil-trade-with-iran.html?_r=1

 

[Hyde]

Can you substantiate with proof the claims you made?

Sir I am a oil and currency trader myself so follow economic news on hourly basis. You should find it easily if you search on Google. If you still want me to share some sources I am ready but that will derail the whole thread

China is not being exempted :

China Is Excluded From Waivers for Oil Trade With Iran
http://www.nytimes.com/2012/06/12/w...sued-waiver-for-oil-trade-with-iran.html?_r=1

Sir please read the post again, I said I was hoping to see China and India being exempted soon.. I didn't say China has been exempted

 

[SamantK]

I think India is the only nation that has reduced oil imports by 10% and I am not being biased here... I do not know many nations that has fallen to US pressure yet

In the new list maybe but Japan has cut 15 to 22 percent check the 12th para in this article

Exclusive: Japan cuts April Iran oil purchases 77 percent: trade | Reuters

See US and Europe wanted to press Iran to abandon their nuclear program but perhaps Iran also realized that if there is any moment after second world war when US and Europe could not afford to fight a war it is this year 2012 when the Europe is suffering from economic turmoil and American growth rate is also very inconsistent. They wanted to alienate Iran but the oil market is so volatile that the rumour of banning Iranian oil and the worsening situation in Egypt and Libya had triggered the oil prices above $110 and that consequently means more inflation and higher unemployment rate in Europe and the whole world...

The oil price has been coming down consistently looking at the markets slump through out the world so lets see how things go.

So if you notice the circumstances in Europe are so bad that they cannot afford to take another risk of going to war if they want to avoid further collapse. So the idea of imposing restrictions on Iran has already failed after Europe, Japan and India were granted exemption from the sanctions and the funny thing is these are the only nations that buys oil from Iran --- China buys oil from Iran but it didn't care very much about the sanctions yet.

What, sanctions failed? last I heard the Iran's oil export dropped to 1.2 bbpd from 2.4-2.5 bbpd.

Also read the article below, Japan has cut the import by about 65% in April alone

2012/05/30 14:05 - Japan Cuts April Crude Imports From Iran By 65.5% On Year


PS: i was under the impression that sanctions would mean US would impose sanctions which could hurt the countries which were not wavered

 

[AyanRay]

I was just thinking this is going to happen soon. They basically sanctioned Iran and then exempted the whole of Europe and Japan. In simple words, only non-Europeans was to suffer from sanctions against Iran

So I was hoping to see India and China being exempted too... China is the only major nation left and soon will get a waiver making the whole drama of sanctions useless.

couple of weeks ago, I was laughing with other oil traders that USA and Europe has a problem with Iran and they exempted themselves from the sanctions so what kind of sanctions are they

Well you failed to understand the issue. Exemptions are from sanctions or penalties from USA. Sanction against oil imports from iran still remain. So basically it means if anyone increases its oil imports from iran it will face US's economic sanctions for doing business with Iran. If China dosnt get US waiver it will face US sanctions. U may hate US vut the fact remains they can cripple any economy in the world including China's, if they want to.
So next time laugh with with your friends on any topic only after having some knowledge about the topic.

 

[PERSIAN GOD KING]

these retarded joker first place sanctions then say okay these sanctions do not apply to 90% of you, clearly this is designed to hurt China... is the americans so moronic that they don't realise if china gets hurt then so will they but a few times worst?

 

[junk]

Yes US is trying all tactics to keep developing nations remain underdeveloped, so no one can challenge the numero uno status.

If India (now) and China (future) are exempt from sanctions, then Iran will hardly face financial troubles.

pretty nonsense post, infact it was US of A & the West which helped india with IT & ITES industries, talk about making holes in the same plate you eat,

do you know how many jobs in the US & Europe were lost due to outsourcing ? millions

west is not a monster you know & how many indians have emigrated to west for better lives millions again.

west should kick these thankless indians in nuts.

 

[AyanRay]

I think everyone here is failing to understand what the waiver means. I dosnt mean that USA has allowed oil imports from Iran, but that it will not impose penalties on Indian banks for doing business with Iran. Basically it means if we had not reduced our imports we also would have faced sanctions

 

[PERSIAN GOD KING]

^^

India did not reduce imports that much.