It's a move which has tit-for-tat written all over it, but one which could nonetheless have a serious impact: The Iranian government wants to present a bill to parliament this weekend calling for an immediate halt to oil deliveries to Europe. The move, with most reports citing the Iranian news agency Mehr, has come about in response to the EU agreement to impose sanctions against Iran, which were announced earlier this week.

The sanctions banned any new contracts for buying oil from Iran, but allowed existing deals to continue until July in order to give countries time to find other sources. But that process is now at risk after the latest move from Tehran, a step the Iranian government had already threatened.

"If this bill is passed, the government will be forced to stop selling oil to Europe before the actual implementation of their sanctions," said Emad Hosseini, spokesman for the Iranian parliament's energy commission, reportedly said. The bill is set to become law on Sunday.

The EU sanctions allow for oil deliveries from Iran until July 1. Any pre-empting of this timescale by Tehran could prove problematic for countries like Italy, Greece and Spain, who would need to urgently find new suppliers.

China, meanwhile, a major importer of Iranian oil, has also criticized the EU sanctions. The Xinhua news agency quoted the Chinese Foreign Ministry on Thursday as saying: "To blindly pressure and impose sanctions on Iran are not constructive approaches."

Economic Consequences

Many members of the EU are now heavily dependent on Iranian oil. Some 500,000 barrels arrive in Europe every day from Iran, with southern European countries consuming most of it. Greece is the most exposed, receiving a third of all its oil imports from Iran, but Italy too depends on Iran for 13 percent of its oil needs. If this source were to dry up abruptly, the economic conditions in the two struggling countries could become even worse.

Already on Wednesday, the International Monetary Fund (IMF) warned of the economic consequences of the EU's planned embargo. Stopping deliveries from the world's fifth largest producer could drive up the price of oil by 20 to 30 percent.

And the prices of different types of oil did rise on Thursday, albeit only slightly. In the morning, the cost of a barrel of North Sea Brent Crude was $110.73, 92 cents more than on Wednesday. The price of a barrel of WTI from the US was up 81 cents at $100.21.

This would be a great time for Putin, Western Europe's good friend, to curtail natural gas shipments.

I'm sure most of you are familiar with the term "the enemy of my enemy is my friend."


Well here in the USA, we like the term,.. "The Enemy of my Enemy is my Enemy".

Fuck them all.

Methinks

I guess its time to fill the oil storage tank; we got 4 feet of snow here.

I jus got back in the house after shovelling a track through 1meter of snow for the oil man to drag his pipe to the tank.

Dry powder snow; great for Skiiing

The Iranians will wait till they see no alternative before trying to stop oil

Lord_Haw_Haw wrote:

The Iranians will wait till they see no alternative before trying to stop oil

I guess they are thinking they will be attacked anyway and will pre-empt an attack and see what losses `the agressosrs` will also take which may cause huge perpercussions.

Panic buying and stuff.

Global.

lookanlearn wrote:

Lord_Haw_Haw wrote:

The Iranians will wait till they see no alternative before trying to stop oil

I guess they are thinking they will be attacked anyway and will pre-empt an attack and see what losses `the agressosrs` will also take which may cause huge perpercussions.

Panic buying and stuff.

Global.

the Iranians will play propaganda games and get the moral and legal high ground if they are attacked. Only then would they cut off oil, and it remains to be seen they have the ability to keep it cut off.

The neocons don't care. They want a war, and when they win, they will privatise it and anything else. That is their aim

Lord_Haw_Haw wrote:

lookanlearn wrote:

Lord_Haw_Haw wrote:

The Iranians will wait till they see no alternative before trying to stop oil

I guess they are thinking they will be attacked anyway and will pre-empt an attack and see what losses `the agressosrs` will also take which may cause huge perpercussions.

Panic buying and stuff.

Global.

the Iranians will play propaganda games and get the moral and legal high ground if they are attacked. Only then would they cut off oil, and it remains to be seen they have the ability to keep it cut off.

The neocons don't care. They want a war, and when they win, they will privatise it and anything else. That is their aim

I ain`t sure that Irans main oil and contract customer (CHINA) and/or Russia will be willing to play ball with any bombing or invasion of Iran.

Even if it did break the back and the spirit of Islam.

I think there would be too many repercussions; and you would have to decimate whole cities of Muzz everywhere; and that would not be good for business in any direction.

China and Russia will not play along.

If they get upset at being fucked with they will respond militariliy in aysymetric ways. Or when the USA is at its weakest; they will strike,

Neocons will not benefit with their country in Civil war. Even if they take that last final gamble with our future.

yes that's a point

Let me get this straight.

The US has Iran surrounded by our military.
The US has overwhelming naval power off Iran's beaches.
The US is fucking with Iran as much as it can.
The US is the Great Satan.

and...Iran is set to Turn Off Oil Supply to Europe.

Sounds about right.

trainer wrote:

Let me get this straight.

The US has Iran surrounded by our military.
The US has overwhelming naval power off Iran's beaches.
The US is fucking with Iran as much as it can.
The US is the Great Satan.

and...Iran is set to Turn Off Oil Supply to Europe.

Sounds about right.

you cannot surround Iran. If you look at Iran's neighbours, you will see why

Field Marshall Trainer, you are busted back to the ranks

trainer wrote:

Let me get this straight.

The US has Iran surrounded by our military.
The US has overwhelming naval power off Iran's beaches.
The US is fucking with Iran as much as it can.
The US is the Great Satan.

and...Iran is set to Turn Off Oil Supply to Europe.

Sounds about right.

1. Iran is trying to cause other countries to seperate away from following the USA ike lapdogs..

2. Iran is awainting the first military attack to bomb every oil terminal in the region which will affect the USA; as it includes Saudi Arabia..

3. Can the USA take and hold Iran if it couldnt manage it with Iraq without almost bankrupting costs to its economy?

4. Do you realise how many muzz will go nuts worldwide? Attacking hostages and murdering tourists?

Enjoy the threat to Iran. Israel will be there to halp you push the button.

lookanlearn wrote:

trainer wrote:

Let me get this straight.

The US has Iran surrounded by our military.
The US has overwhelming naval power off Iran's beaches.
The US is fucking with Iran as much as it can.
The US is the Great Satan.

and...Iran is set to Turn Off Oil Supply to Europe.

Sounds about right.

1. Iran is trying to cause other countries to seperate away from following the USA ike lapdogs..

2. Iran is awainting the first military attack to bomb every oil terminal in the region which will affect the USA; as it includes Saudi Arabia..

3. Can the USA take and hold Iran if it couldnt manage it with Iraq without almost bankrupting costs to its economy?

4. Do you realise how many muzz will go nuts worldwide? Attacking hostages and murdering tourists?

Enjoy the threat to Iran. Israel will be there to halp you push the button.

I cannot wait FOR WAR TO START, I HOPE IN A FEW MONTHS

America is already on its knees, it will be interesting to see what happens

COMMON Iran, fuck

OK..turn it off. We will turn off the REST of your oil industry
for good measure. Fuck the chinks and injuns.

I don't hear iran talking about cutting off Japan or South Korea.
Playing favorites are ya?

Make our fucking day.

luv2hate_em wrote:

OK..turn it off. We will turn off the REST of your oil industry
for good measure. Fuck the chinks and injuns.

I don't hear iran talking about cutting off Japan or South Korea.
Playing favorites are ya?

Make our fucking day.

We are two days form intelligently responding to that.

ALl Irans customers will be affected if Iran halts oil supply to europe; as there will be "Side-effects".

It must be a complicated game of chess for the politicians to play. Whichever country.

Personally, I can only think clearly without pressure. In the spotlight, It`S so much harder to see clearly as every fucker is shining their opinion in your eyes demanding a response soon.

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I really cant wait for someone intelligent enough to make the decision to drill for our own oil and natural gas so we can stop giving a fuck about what happens 10,000 miles away. Let Iran go to war with Europe, the loser of that war should have to keep France.

Stryker wrote:

I really cant wait for someone intelligent enough to make the decision to drill for our own oil and natural gas so we can stop giving a fuck about what happens 10,000 miles away. Let Iran go to war with Europe, the loser of that war should have to keep France.

USA has been drilling/fracking natural gas for years; and ruining the water supply doing it.
Oil you have in abundance if you don`t over-use it like life is a free-for-all.
"Alternatives in the pipeline", should not mean more dirty oil..

oil in Alaska. Oil reserves elsewhere in US. Start drilling

Lord_Haw_Haw wrote:

oil in Alaska. Oil reserves elsewhere in US. Start drilling

Only on the condition that not one drop gets sold to Europe.

I propose a 100% "green" solution for the half-wit lefty Eurotards. A complete energy embargo, no less.

- Not one drop of oil
- Not a single kilowatt of electricity
- No natural gas

Flinch can then cook their snails and slugs on a wood stove and dine by candlelight in their thermal underwear.

No more Eurodisney or McDo's, and Flance gets to reacquaint itself with the peasant lifestyle of the Roman-era Gallic savages.

US has banned Iranian oil for decades. It was about time Europe put in place the same sanction in such escalate.

What about Japan ? I thought they were a reliable ally of US ?

Stryker wrote:

I really cant wait for someone intelligent enough to make the decision to drill for our own oil and natural gas so we can stop giving a fuck about what happens 10,000 miles away. Let Iran go to war with Europe, the loser of that war should have to keep France.

US proven oil reserve : 19.12 billions bbl
US annual oil consumption : 6.65 billions bbl

Let drill, but what are you going to do after 3 years ?