Iran Shrugs At Looming EU Ban On Its Oil

[Purveyor]

By Agence France-Presse
Thursday, January 5, 2012

Iran on Thursday played down the impact of new Western sanctions targeting its vital oil sector, after European diplomats said they have reached preliminary agreement on an EU oil ban from the Islamic republic.

The National Iranian Oil Company said demand was so high for Iranian oil that it would have no trouble selling it elsewhere.

“We hope that Iran’s oil is not sanctioned officially but if so we have taken the needed arrangements,” the company’s director of international affairs, Mohsen Qamsari, was quoted as saying in a report on Iran’s oil ministry website.

The 27-nation European Union has struck “an agreement in principle” to ban Iranian oil imports, an EU diplomat in Brussels told AFP.

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http://www.rawstory.com/rs/2012/01/05/iran-shrugs-at-looming-eu-ban-on-its-oil/

[hifiguy]

1. I am sure the Chinese will be happy to

buy all the Iranian oil they can.

[sharp_stick]

2. But the Chinese won't be paying

the going rate anymore. They aren't stupid, Iran will need to dump the stuff and the Chinese will be more than happy to buy it at a discount.

[jwirr]

3. No wonder they shrug - it sounds like a great way to cause Europe more problems. As if they don't

have enough already.

[ciaoant1]

4. Iran

Westerners are about to invade one more country - as the dollar and the rest of the fiat currencies are losing their value due to money printing, we are approaching a point where the world will simply reject them, and the West will not be able to have oil - at least not at "reasonable" prices by today's standards.

This is why the USA "must" attack all the oil states who try to break free from the dollar, and start accepting other means of payment - because no mater how much it costs them to go to war, it will cost them a lot more if the world finally gets of the "dollar standard", and the value of the dollar goes to almost zero.

The main thing that prevents the oil states from rejecting the dollar right now is their fear of being attacked by the USA - if that fear goes away, then they will be free to choose what currency to accept as means of payment.
http://whataboutmarx.blogspot.com/2012/01/oil-wars-stakes-are-higher-than-just.html

[pampango]

5. A smarter reaction than showing fear or indecision which would just embolden the EU.

If Iran really was better off selling its oil somewhere else ("we have taken the needed arrangements&quot , they would already have been doing so. This will probably hurt them a little but someone will buy their oil.