Europe moves toward oil embargo against Iran

[Safriz]

Still Mr.John or Poor Rachel get good health care service and $600 to $1200 un-employment benefits.so they don't go to sleep empty stomach . stop worrying about them .. what you think .. western countries are not thinking about its negative effect ..
It will be bigger and worst disaster for us .. than western countries.. our currencies are already in free fall mode.. trade deficit is increasing ... for us inflation will be all time high and our people will be in bigger mess than what poorest of poor will be in western countries..
Don't wish for some one bad time .. but try to avoid ours ... when do comparison see where are we standing and where they .. in last fifty years they made their institution so strong that people get one of the best facilities .. we are still way behind.. if they sinks... we will also get water in our ships

lol...what do you think about Iran? Financially speaking Its a better welfare state than most of the Europe...Iranians get cheap subsidized food,and government pays for the price hike not the people..and many other benefits which some Iranian member can elaborate..
Most importantly.. after the embargo..Fuel prices will hike in Europe not Iran,,so who will be the loser...

 

[Crive]

The big question here is how much this trade embargo is going to affect Iran's economy. Will that create crisis like Saddam Hussain's era type economic hardship or situation is totally different from what happened to Iraq since Iran has support of Both Russia and China.

the reason why we have oil export to Europe is to keep a balance in price china south korea japan india etc these countries didn't accept sanction against iran
korea rised 10k after US sanctions so you see im talking about korea here!
imagine a day that US says we wont trade with china anymore! or india they wont stop trading with half of the world so
this sanction has just an impact effect its not like a constant force the pass this because they want to force us to sit and talk with them for the thing that they lost (iraq)

Iran has as much right to have nuclear weapons as USA..Why should USA have nukes but Iran should be forcebly stopped..
This is the problem...

this is what happen when an stoppable(US) force hit an unmovable object(iran)!(with a little change!)
we wont do what they want us to do.

Because they signed a document saying they wouldn't in return for access to dual use technologies, a document nearly every country in the world adheres to.

and the agency promised that they will provide necessary fuel for us and the respect their part and they approved more sanctions!
why should we possibly respect what they did not?if its important you should stop passing more sanction and cancel others that's what i call a deal

 

[Nothing]

lol...what do you think about Iran? Financially speaking Its a better welfare state than most of the Europe...Iranians get cheap subsidized food,and government pays for the price hike not the people..and many other benefits which some Iranian member can elaborate..
Most importantly.. after the embargo..Fuel prices will hike in Europe not Iran,,so who will be the loser...

Iran is much more vulnerable than we think.. subsidize food and energy is big headache for Iranian policy makers...
read below articles you will know how desperate government is to remove them

Iran Subsidies | Ahmadinejad says food, fuel subsidies will be slashed - Los Angeles Times
BBC News - Iran's cut in fuel and food aid raises protest fears

One year ago they were in bad situation where they started fuel rationing.. after removing subsidy prices went four fold ..
still they have issue of double-digit unemployment and inflation.. they have double digit inflation from last many years despite of such a heavy subsidies.. where sometime government give 50% to 80% of cost.
According to you(no finger pointing) they are good because they do provide subsidies .. then why government is passing bills to cut subsidies from last 2- 3 years ..
With very less population and vast revenue from oil (only Oil is their major export) they were able to provide it .. but now situation is different ..with economical hardship they are also vulnerable as any other nation in world ...

and this all drama will effect India and Pakistan more than EU.. members on this forum are jumping by seeing blink future of western countries.. but they are not looking at future of their own countries which is dependent of those western countries ..

 

[pmukherjee]

Because they signed a document saying they wouldn't in return for access to dual use technologies, a document nearly every country in the world adheres to.

Nuclear Non-Proliferation Treaty - Wikipedia, the free encyclopedia

We did not sign any document, did we? We still haven't signed that idiotic document. But that did not stop you guys from sanctioning the hell out of us, twice, did it buddy? There is clearly a method in the madness here. It is a good thing we did not sign the NPT and went on to acquire nukes. People survive sanctions, however miserable they maybe and nothing can stop a determined nation from acquiring nukes.

However it is not the US alone which does not want any of the nuclear 'have nots' not to have nukes. None of the 'big five' want their nuclear monopoly to be eroded. Does China want Iran to have nukes? No it doesn't. But China is quite content to sit back and let the US and EU do all the dirty work and take the consequent $hit when it hits the fan. While it make sympathetic noises in the hope that it gets to pick up the pieces when it is all over. Hypocrisy all around.

 

[FriendOfPakistan]

Both Iran and the US behave like alcoholics who can't get off the alcohol of mutual hatred and hostility.

Israel, it's US lobby and zionist christians are a major source of the problem, together with the anti-Israel crusaders in Iran.

A Ron Paul as US president could break the deadlock, but his chances don't look good so far.

Both Khamenei and the US establishment are like stubborn donkeys.

Two alcoholics addicted on a drug of hatred and hostility ...

 

[Secur]

A recipe for disaster in these times of global recession ...

Can US will its huge financial debt and worst economic condition afford another war just to please their masters at Tel Aviv ? ... I just dont understand how Europe came to support US in this irrational decision ...

 

[Roybot]

China extends Iran oil import cut as sanctions mount | Reuters

BEIJING, Jan 5 (Reuters) - China will reduce crude imports from Iran for a second month, sources said on Thursday, as the two remain divided over payment terms for Iranian crude targeted by ever tougher international sanctions.

The dispute underlines the difficulty Iran will have selling its oil after European Union governments on Wednesday agreed in principle on banning its import and as new U.S. sanctions target payments for the country's crude.

 

[Imran Khan]

Bad news for importers... this sanctions will really hit iran hard. I still remember how the iraqi dinar slided against the dollar.. same thing is seem to be going against rial. Once start loosing the value of your currency all hell break loose.

when was Iranian riyal value last time?

today rates


1.00 USD = 11,195.00 IRR

 

[SinoChallenger]

Now it all makes sense! Iran is threatening to close the Straits of Hormuz in response to a US blockade of Iran. That is the next logical step after a European oil embargo. Once Europe stop trading with Iran, they are no longer afraid of blockading Iran. Iran's leadership senses this, so they are making a demonstration that they can close the Straits of Hormuz.

USA has a very weak position here. USA doesn't have the strength to do some sort of amphibious coast assault on Iran. Air strikes would be indecisive and many US aircraft will be shot down. I am pretty certain Iran bought some S-300 PMU-2 or some HQ-9.

Iran bringing down the stealth drone was only the beginning. Iran has more tricks up its sleeves.

 

[SinoChallenger]

Thousands of US troops deploying to Israel — RT


Fewer, Better Nuclear Weapons Can Make the U.S. Stronger: View

 

[fast]

The oil price will jump and you know who will be hurt the most.

 

[Hussein]

when was Iranian riyal value last time?

today rates


1.00 USD = 11,195.00 IRR

it changes very very much
a few days ago it was 1600 tomans (1 toman = 10 rials) for 1 US dollar
then the next day 1800 tomans and then 1600 again
Iran Central Bank Moves to Rescue Rial as Allies Tighten Net - Businessweek

The official rate for today was 11,180 rials a dollar, according to the central bank’s website."]The official rate for today was 11,180 rials a dollar, according to the central bank’s website.

Today, foreign-currency traders in Tehran were ignoring instructions issued yesterday by the central bank for them to sell the dollar at the rate of 14,000 rials, Fars said. They refused to trade at that rate or were only using the rate of 16,000 rials, Fars said. Directors of Iran’s banks were asked to meet central bank Governor Mahmoud Bahmani today to address the rial’s volatility.

In the past let's say 10 000 rials = 1 USD was something like a reference .. even it was a little more indeed
it is easy to convert in your mind 1000 tomans = 1 USD
but yeah it changes a lot nowadays

 

[longbrained]

Disregard sanctions, produce more stuff locally, start using Yuan as payment from China and only import capital intensive goods for example industrial machinery and production equipment. For a few months to a year, it is going to be difficult but then with increased production, things will improve. Iran should explore niche oil markets more and try to sell petroleum products instead of crude. Also Iran should make a modern and parallel banking system so that it does not have to rely on American and European banking system for its payments. At last but not least, Iran should completely build a new currency since its current currency is worthless and troublesome. Iran should ditch the fiat currency and revert back to a real currency. Iran can directly link its currency to oil. Lets say every new rial is worth one liter of crude oil and every dinar to be 1 cc of crude and uppon demand Iran will supply the note holder the crude or its equivalent worth. Simple, effective and a solid non-fiat currency. And since Iran is sitting on top of lots of crude, it should not be a problem if Iran keeps printing money.