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Wednesday, June 13, 2012

US exempts Turkey, India and South Korea from Iran sanctions

The Obama administration has exempted Turkey, India and South Korea from sanctions that are to be imposed on Iran on July 1 (Hat Tip: Joshua I).
"By reducing Iran's oil sales, we are sending a decisive message to Iran's leaders: until they take concrete actions to satisfy the concerns of the international community, they will continue to face increasing isolation and pressure," Clinton said in a release.

Banks and other institutions in the economies that received waivers will be given a six-month break from the threat of being cut off from the U.S. financial system under sanctions signed late last year by President Barack Obama.

Although China did not immediately receive a waiver, it does not necessarily follow that the United States will impose sanctions on the country from June 28.

It was not immediately clear why China failed to get the exemption. However, backers of tough sanctions on Tehran believe China has received clandestine cargoes of oil from Iran, which has disabled tracking devices on some of its shipments.

In March, the United States granted exceptions to Japan and 10 EU countries for significantly cutting purchases of Iranian petroleum.
Other than China, what significant purchaser of Iranian oil has NOT been granted an exemption? And why is Roger Simon calling this development 'reassuring'?
A balancing act is evidently in progress here, with the U.S. encouraging various powers (India and South Korea are Iran’s second- and fourth-largest oil buyers, according to Reuters) to reduce their oil purchases from the mullahs a significant amount, but not too much. Too much could have a negative impact on the precarious global economy and possibly even Obama’s reelection chances.

But the chosen six-month exemption time frame gives these discussions a window wide enough to get past our elections, a fact undoubtedly not lost on Netanyahu and the Iranians.

Equally undoubtedly, both parties made note of President Obama’s overheard remarks to Russian Prime Minister Medvedev, urging him to be patient and implying that after the election things would be different. He, Obama, would have more freedom of action.

So delay, delay, delay. This is good news for the Iranians. Patience is the name of the game for them. They love to wait things out. Indeed, they are masters of it, talking, not talking, walking and talking, talking and not walking, walking and not talking, all the while taking the opportunity to advance their nuclear ambitions.

Those in the administration who are more serious about the Iranian threat probably tell themselves that this time the sanctions (although limited in the manner described above) will really hurt the Iranian regime, that the scalawags genuinely fear the financial repercussions. This time they will work.

It’s hard to believe that sitting here in Los Angeles, even less likely sitting in Jerusalem and Tel Aviv.
That's why I'm still looking for an Israeli attack on Iran between now and November 6. Subject to Netanyahu finding some you-know-whats.

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At 3:58 AM, Anonymous Anonymous said...

And why is Roger Simon calling this development 'reassuring'?

Because, the US is desperately trying to keep up the pretence that it wields influence by pretending that it's growing irrelevancy means, those countries would reject any demand by the US.

It's an attempt to save face.

At 7:38 AM, Blogger Unknown said...

HI Carl.
Before May, Turkey was the only buyer in Europe to increase purchases from Iran, while other European refiners cut back on imports of the crude ahead of an impending EU oil embargo due to take effect from July 1.

In the first four months of 2012, Turkey imported 210,000 barrels per day of Iranian oil on average, including a huge 270,000 bpd in March, much higher than its 2011 average of 185,000 bpd.

In May Turkey's state-controlled refining company, Tupras, imported around 140,000 barrels per day (bpd), a 20 percent drop from its 2011 average, according to the latest shipping data, obtained by Reuters.

Port data showed 152,000 tonnes of Iranian crude was delivered to the port of Aliaga in May, while 443,000 tonnes of Iranian crude was delivered to its second import terminal, Tutunciflik. Tupras is expected to import the same volume in June.

From July 1, Turkey will remain effectively the sole buyer of Iranian crude in Europe.

Official trade data showed that in the first four months of this year, Iran accounted for about 58 percent of Turkey's near 6 million tonnes in total crude imports.

They first INCREASED their imports in order to pretend later on to lower their imports!



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