Obama: Enough world oil to justify Iran sanctions

[toomuchtime_]

US President Barack Obama said on Friday he has determined there is enough oil in the world market to allow countries to cut imports from Iran, allowing Washington to begin sanctioning countries that continue to buy Iranian oil.

In his decision, required by a sanctions law he signed in December, Obama said in a statement that increased production by some countries as well as "the existence of strategic reserves" helped him come to the conclusion that sanctions can advance

"I will closely monitor this situation to assure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran," Obama said.

The sanctions aim to pressure Iran to curb its nuclear program, which the West suspects is a cover to develop atomic weapons but which Iran says is purely civilian.

Senator says US putting nations on notice

Obama is required by law to determine by March 30, and every six months after that, whether the price and supply of non-Iranian oil are sufficient to allow consumers to "significantly" cut their purchases from Iran.

The law allows Obama, after June 28, to sanction foreign banks that carry out oil-related transactions with Iran's central bank and effectively cut them off from the US financial system.

"Today, we put on notice all nations that continue to import petroleum or petroleum products from Iran that they have three months to significantly reduce those purchases or risk the imposition of severe sanctions on their financial institutions," said Senator Robert Menendez, co-author of the sanctions law.

Obama: Enough world oil to justify Iran ... JPost - International

 

[waltky]

Sanctions causin' oil distribution problems for Iran...

Iran, unable to sell oil, stores it on tankers
13 May`12 - Increasingly hard-pressed to find buyers for its petroleum, Iran has been routinely switching off satellite tracking systems on its sea-bound oil tankers for more than a month, in what U.S. officials and industry analysts describe as a cat-and-mouse game with Western governments seeking to enforce sanctions on Iranian exports.

The unusual tactic was begun in early April and affects a quarter of Iran’s tanker fleet, according to the International Energy Agency (IEA), which has been monitoring the practice. The move, a violation of maritime law, is only modestly effective in cloaking 1,000-foot-long tankers as they ply the oceans in search of open ports and willing buyers. But it underscores Iran’s precarious position as it faces ever-tighter Western restrictions against its oil industry, which provides the bulk of export and government revenue. Hobbled by sanctions against its banks and a growing international boycott of its petroleum, Iran is seeing its revenue sag while its oil sits in storage depots and floats in tankers with nowhere to go, U.S. security officials and diplomats say.

The country’s worsening prospects have encouraged Western governments as they prepare for nuclear talks with Iran, set to begin May 23. U.S. officials say the building economic pressure increases the chances for a breakthrough in which Iran would agree to abandon elements of its nuclear program. “They are increasingly isolated — diplomatically, financially and economically,” David Cohen, the Treasury Department’s undersecretary for terrorism and financial intelligence, said Thursday. “I don’t think there is any question that the impact of this pressure played a role in Iran’s decision to come to the table.”

Cohen noted the cascading effects from Iran’s oil crisis spreading to other parts of the economy as consumer prices and unemployment rates soar. “The value of their currency, the rial, has dropped like a rock,” Cohen told a gathering at the Center for Strategic and International Studies in Washington. “That has had a significant impact on Iran’s ability to pay for materials for the nuclear program, and, more broadly, it puts pressure on the leadership.”

Whether Iran is prepared to make significant concessions is unclear. But there is little doubt about the toll being exacted by sanctions. “It has definitely hurt Iran,” said Amrita Sen, a London-based commodities analyst with Barclays Capital. “No doubt about that.” One key impact of recent sanctions has been to choke off shippers’ access to maritime insurance, nearly all of which is underwritten in Europe, Sen said. That has made Iran ever more dependent on its own fleet of 39 tankers, including 25 super-tankers, according to IEA figures.

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[Katzndogz]

The sanctions against Iran have not worked. There are enough exemptions to make the sanctions meaningless. Iran is on track to make its nuclear bomb, then they will launch it. If obama is presisent, he will do notning even if a bomb is launched from Venezuela into downtown Manhattan.

 

[sharif]

US President Barack Obama want to defeat Iran with the help to afraid Iran that USA and WEST can attack any thing than why awaiting? The secret is USA or Israel or any WEST country never dare or courage to attack Iran? Do not consider Iran as ( Arab Luxury leaders ) have no connection or relation with Islam? Arab King proud to send 1.0 Million Dollars in night club? It is true face of Wahabi and promoting American Islam?

What Happen to Jimmay Carter when tried to release 54 American hostage during 1979?
Too early forgotten American?

 

[waltky]

Iran feelin' the heat of sanctions...

As sanctions tighten, Iran gets squeezed
May 23rd, 2012 - Despite recent assurances by senior officials in Iran that the country will weather sanctions targeting the country's petroleum and financial sectors, the international effort is having a noticeable impact on the Iranian economy. And the situation may well figure into talks scheduled for Wednesday in Baghdad over the Islamic Republic's disputed nuclear program, U.S. officials say.

Iranian exports of crude oil fell sharply in April, and could be down by as much as 1 million barrels a day, as many countries seek to reduce their imports of Iranian oil ahead of sanctions set to come into full effect later this summer, the International Energy Agency (IEA) said in a report released earlier this month. President Barack Obama has until June 28 to decide whether countries that purchase Iranian oil have significantly reduced their purchases, or face a cutoff in access to the U.S. financial system under legislation signed in December.

Separately, the European Union is set to enter into a complete embargo of Iranian oil on July 1. As countries diversify their purchases ahead of both sets of sanctions, U.S. officials say Iran's declining customer base for oil, as well as prohibitions on Iran's central bank, are having a broad impact on the overall Iranian economy. "The value of their currency has dropped like a rock and that has a significant impact on Iran's ability to pay for the material it needs for its nuclear program," David Cohen, Treasury under-secretary for terrorism and financial intelligence, told an audience in Washington earlier this month. "They are increasingly isolated - diplomatically, financially and economically," he said. "I don't think there is any question that the impact of this pressure played a role in Iran's decision to come to the table," for talks with the United States and its allies about the nuclear program.

As the sanctions deadlines draw nearer, Iran is losing oil revenue because of both declining sales volume, and declining prices as countries that still purchase the crude see it as a distressed asset, and seek to negotiate steep price discounts on every barrel purchased. To be sure, Iran is still producing a great deal of oil. In its report, the IEA said Iran was pumping about 3.3 million barrels day. But as most of Iran's customers reduce their purchases, the agency said much of Iran's excess production is being diverted to storage both onshore, and aboard floating tankers at sea. Estimates of Iranian oil added to floating storage since March range from 450,000 to 800,000 barrels a day, while an additional 20 million to 25 million barrels have been added to onshore facilities, the IEA said.

Once on floating storage, Iranian tankers have been turning off ship transponders so their movements are more difficult to track. Analysts who follow the Iranian program say the elusive tactic serves two purposes: It allows Iran to ply the seas and engage in covert sales of the crude, often at greatly discounted prices. Also, Iran is loathe to signal to the world a high volume of floating storage, as that would be an acknowledgment that the sanctions are having an impact. The tracking systems are required by international law on seagoing tankers as a means to protect against accidents and spills.

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[waltky]

Granny says, "What good are sanctions if ya just gonna waive `em...

US exempts seven states from sanctions over Iran oil
11 June 2012 - The US hopes that hitting Iran's oil revenue will force Tehran to change its nuclear programme

The US has exempted seven countries from economic sanctions in return for cutting imports of Iranian oil. US Secretary of State Hillary Clinton said waivers were granted to India, South Korea, Malaysia, South Africa, Sri Lanka, Taiwan and Turkey. Under a US law signed in December, countries have until 28 June to greatly reduce oil imports from Iran or be cut off from the US financial system. The aim is to pile pressure on Iran to stop its uranium enrichment programme.

Washington and its allies believe Tehran is secretly trying to make nuclear weapons, a claim strongly denied by the Iranians. Mrs Clinton said the latest exemptions proved that sanctions were working. "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," she said in a statement.

Pressure on China

In March the US granted exceptions to Japan and 10 EU countries for cutting their imports of Iranian petroleum. Correspondents say the latest move puts pressure on China, which is Iran's biggest oil customer, to also cut its imports. US officials have said that Washington remains in talks with Beijing over the issue, AFP news agency reports. The US says Iranian oil exports have fallen from about 2.5 million barrels a day last year to between 1.2 and 1.8 million barrels a day.

Last week, the UN's nuclear watchdog said talks in Vienna aimed at getting greater access to Iran's nuclear sites had ended without progress. Further talks between Iran and six powers - Britain, the US, China, Russia, France and Germany - are due to be held in Moscow next week. Tehran insists its nuclear programme is for peaceful means.

BBC News - US exempts seven states from sanctions over Iran oil

 

[Sallow]

The sanctions against Iran have not worked. There are enough exemptions to make the sanctions meaningless. Iran is on track to make its nuclear bomb, then they will launch it. If obama is presisent, he will do notning even if a bomb is launched from Venezuela into downtown Manhattan.

The "sanctions" are "working". They are making ordinary Iranians, miserable. And it's crushing the economy of Iran.

And for no good reason.

I also find your assumption that Iran would launch a nuke..and laughable you think either Venezuela (Which isn't even close to producing a bomb) or Iran has a system capable of delivering a nuke to Manhattan.

 

[waltky]

Granny says sanction `em some more...

Panetta says sanctions haven't yet worked in Iran
30 July`12 — U.S. Defense Secretary Leon Panetta is acknowledging that international sanctions have not achieved their aim of compelling Iran to rein in its nuclear ambitions.

He said Monday that sanctions are hurting Iran's economy. And he said that although the "results are not obvious at the moment," Iran has at least expressed a willingness recently to engage in nuclear negotiations.

Panetta told reporters at the North Africa American Military Cemetery that the international community is still determined to stiffen the sanctions in hopes of preventing Iran from acquiring a nuclear weapon.

Panetta said the United States "will not tolerate" an Iran with a nuclear weapon, and he said that it is prepared to use "all options" to stop Tehran. Iran says it is enriching uranium for civilian energy, not military purposes.

Source

See also:

America's uneasy Gulf allies adding to arsenals
30 July`12 – While Iran's military loudly trumpets every new project or purported advance in hopes of rattling the U.S. and its Gulf Arab allies, the U.S. is quietly answering with an array of proposed arms sales across the region as part of a wider effort to counter Tehran.

In the past two months, the Defense Department has notified Congress of possible deals totaling more than $11.3 billion to Gulf states such as Qatar and Kuwait, which are seen as some of America's critical front-line partners in containing Iran and protecting oil shipping lanes. The proposed sales — including Patriot missile batteries and Apache attack helicopters — are still modest compared with massive Gulf purchases such as Saudi Arabia's $60 billion package last year. That deal included more than 80 new F-15SA fighter jets, missiles, radar warning systems and other equipment. But the recent flurry of expected sales from U.S. firms, approved by the Pentagon and outlined in notifications to Congress, underscores the growing emphasis among nervous Gulf states on seeking quick upgrades to existing firepower and defensive networks. The arms sale need congressional approval, but usually few objections are raised for key allies such as Gulf nations.

Gulf worries about possible military action against Iran have increased with diplomatic efforts making little headway in easing the showdown over Tehran's nuclear program, which the West and others fear could eventually develop atomic weapons. Iran says it only seeks reactors for energy and medical uses. An Israeli newspaper, Haaretz, reported Sunday that National Security Adviser Tom Donilon briefed Israeli officials on possible U.S. attack plans if diplomacy and sanctions fail to pressure Tehran to scale back its nuclear enrichment program. A senior Israeli official, speaking on condition of anonymity to discuss confidential talks, denied the Haaretz report. The news reports reflect the uncertainties in the region with negotiations nearly stalled and Iran trying to push back against deepening sanctions on its vital oil exports. "There was a bit of a breather in the region when (nuclear) talks resumed," said Bruno Tertrais, senior researcher at the Foundation for Strategic Research in Paris. "That is quickly fading." In its place: a sense of military adjustments moving at a faster pace.

Washington plans to keep at least 13,500 troops in Kuwait — down slightly from the current 15,000 — but with an expanded mission as a potential rapid-reaction force for the region. The Pentagon also has scores of warplanes and other assets across the Gulf, including air bases in the United Arab Emirates and Saudi Arabia. At sea, the U.S. Navy plans to lead maneuvers in September that include minesweeping drills — a clear response to Iran's threats to block oil tankers from passing through the Strait of Hormuz at the mouth of the Gulf in retaliation for the tightening Western sanctions. The U.S. is also boosting its Gulf flotilla, directed by the Navy's 5th Fleet in Bahrain. Among the additions: a floating assault base aboard the retrofitted USS Ponce and accelerated deployment of the aircraft carrier USS John C. Stennis to ensure two carriers are in the Gulf region at all times.

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[waltky]

Obama tightenin' Iran bank sanctions...

US tightens banking sanctions on Iran
Thu, Aug 02, 2012 - UPPING THE ANTE: With Obama’s order targeting China’s Bank of Kunlun, Beijing said it was a violation of international rules that would undermine bilateral relations

US President Barack Obama announced new US sanctions on Tuesday against foreign banks that help Iran sell its oil and said the measure would put pressure on Tehran for failing to meet its international nuclear obligations. The decision came ahead of US congressional votes on new sanctions intended to further strip Iran of its oil-related revenues and drew swift condemnation from China, home to one of the targeted banks and a major buyer of Iranian oil. The sanctions followed criticism from presumptive Republican US presidential candidate and former Massachusetts governor Mitt Romney that the White House is failing to act strongly enough to stop Iran’s suspected pursuit of a nuclear weapons. Iran says its nuclear program is for peaceful purposes.

The US remains committed to finding a diplomatic resolution to the standoff with Tehran, but is also determined to step up the pressure, Obama said in a statement accompanying his executive order authorizing the sanctions. Obama’s new sanctions target foreign banks that handle transactions for Iranian oil or handle large transactions from the National Iranian Oil Company (NIOC) or -Naftiran -Intertrade Company (NICO), two key players in Iran’s oil trade. That builds on oil trade sanctions signed into law in December last year that prompted buyers in Japan, South Korea and India to significantly cut purchases to avoid penalties. China also cut purchases from Iran earlier this year because of a dispute over contract terms.

The new executive order has the same rules, providing “exceptions” to nations that have demonstrated significant cuts. Obama’s new order also targets China’s Bank of Kunlun and Iraq’s Elaf Islamic Bank for providing services to Iranian banks. “We expect that today’s action will have a significant chilling effect on the ability of Kunlun and Elaf to operate anywhere in the world,” US Department of the Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen told reporters.

China’s swift and angry reaction to the US sanctions highlighted its insistence that its extensive trade and energy deals with Iran should not be hurt by the nuclear stand-off. “The US has invoked domestic law to impose sanctions on a Chinese financial institution, and this is a serious violation of international rules that harms Chinese interests,” Chinese Ministry of Foreign Affairs spokesman Qin Gang said in a statement. The sanctions “will have a -negative effect on bilateral Sino-US cooperation” Qin said. Calls to Kulun’s administrative office in Beijing were not answered.

More ]Page not found - Taipei Times

See also:

Panetta: Military a U.S. option on Iran
Aug. 2,`12 (UPI) -- Washington is poised with military options to destroy Iran's nuclear program if economic sanctions don't work, U.S. Defense Secretary Leon Panetta said.

Panetta's comments in Israel came amid deepening concern in Washington that Israel will launch a unilateral strike on Iran -- and as Israeli Prime Minister Binyamin Netanyahu said time for peaceful resolution was "running out." "We will not allow Iran to develop a nuclear weapon. Period. And we will exert all options in the effort to ensure that that does not happen," Panetta said after meeting with Netanyahu, the latest Obama administration official pressing Israel to give economic sanctions more time to persuade Iran to give up its nuclear ambitions. Iran insists its nuclear program is strictly peaceful.

Panetta said after a separate meeting with Israeli Defense Minister Ehud Barak his responsibilities included providing President Barack Obama "with a full range of options, including military options, should diplomacy fail." Two days earlier, presumptive Republican presidential nominee Mitt Romney said during an Israeli visit "any and all measures" should be considered to keep Iran from developing nuclear weapons. Netanyahu, who met with Romney Monday, said Wednesday that sanctions, diplomacy and declarations of a willingness to take military action as a last resort had not convinced the Iranians to stop their nuclear program. "Right now the Iranian regime believes that the international community does not have the will to stop its nuclear program," he said in Jerusalem. "This must change and it must change quickly because time to resolve this issue peacefully is running out."

Obama administration officials have told The New York Times Israeli officials are less confrontational in private than in public and Netanyahu understands the consequences of military action for Israel, the United States and the region. They say they know Netanyahu has to maintain the credibility of his threat to keep up pressure on Washington to escalate sanctions and develop military plans. The U.S. Senate Wednesday night unanimously approved harsher economic sanctions on Iran and sent the measure to Obama for his signature. Senate Majority Leader Harry Reid, D-Nev., said the stronger restrictions were needed because Iran "continues to defy the international community with its nuclear weapons program," Roll Call reported.

The Senate passed the bill by unanimous consent, the Washington publication said. "This legislation expands our existing sanctions on Iran's energy sector, and imposes new sanctions targeting shipping and insurance," Reid said. "Iran continues to try to evade existing sanctions. But this legislation, in combination with newly announced measures by the Obama administration, closes loopholes and stops the use of front companies, or financial institutions to get around international sanctions." The House of Representatives passed the compromise measure earlier. Panetta was to arrive in Jordan Thursday to meet with senior officials about Iran, Syria and other regional concerns, the Pentagon said.

Read more: http://www.upi.com/Top_News/World-News/#ixzz22OGsBd2g

 

[Indofred]

The sanctions against Iran have not worked. There are enough exemptions to make the sanctions meaningless. Iran is on track to make its nuclear bomb, then they will launch it. If obama is presisent, he will do notning even if a bomb is launched from Venezuela into downtown Manhattan.

Perhaps you should stop smoking weed.